Putnam Multicap Correlations

PMYYX Fund

USD 46.17 0.16 0.35%

The current 90-days correlation between Putnam Multicap Core and Bbh Partner Fund is 0.62 (i.e., Poor diversification). The correlation of Putnam Multicap is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Putnam Multicap Correlation With Market

Very poor diversification

The correlation between Putnam Multicap Core and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Multicap Core and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Putnam Multicap Core. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Putnam Mutual Fund

0.97	PEYAX	Putnam Equity Income	Pair Corr
0.87	PFICX	Putnam Floating Rate	Pair Corr
0.82	PFJAX	Putnam High Yield	Pair Corr
0.87	PFLRX	Putnam Floating Rate	Pair Corr
0.86	PFLLX	Putnam Floating Rate	Pair Corr
0.87	PFRYX	Putnam Floating Rate	Pair Corr
0.86	PFRZX	Putnam Floating Rate	Pair Corr
0.88	PGEYX	George Putnam	Pair Corr
0.88	PGEJX	George Putnam Balanced	Pair Corr
0.88	PGEOX	George Putnam Potential Growth	Pair Corr
0.88	PGELX	George Putnam Balanced Potential Growth	Pair Corr
0.87	PGEMX	George Putnam Potential Growth	Pair Corr
0.98	PGIAX	Pnc Fds Gr	Pair Corr
0.98	PGIOX	Putnam Global Industrials	Pair Corr
0.98	PGILX	Putnam Global Industrials	Pair Corr
0.98	PGODX	Putnam Growth Opport	Pair Corr
0.98	PGOEX	Putnam Growth Opport	Pair Corr
0.88	PGPRX	George Putnam Potential Growth	Pair Corr
0.98	PGOYX	Putnam Growth Opport	Pair Corr
0.88	PGPCX	George Putnam Potential Growth	Pair Corr

Moving against Putnam Mutual Fund

0.8	PGHAX	Putnam Global Health	Pair Corr
0.73	PGBRX	Putnam Global Income	Pair Corr
0.73	PGGLX	Putnam Global Incm	Pair Corr
0.72	PGGYX	Putnam Global Incm	Pair Corr
0.72	PGGIX	Putnam Global Income	Pair Corr
0.71	PGGDX	Putnam Global Income	Pair Corr
0.71	PGGEX	Putnam Global Income	Pair Corr
0.54	PGLEX	Putnam Global Equity	Pair Corr
0.36	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.32	PEXTX	Putnam Tax Exempt	Pair Corr
0.31	PXOHX	Putnam Ohio Tax	Pair Corr
0.8	PHSRX	Putnam Global Health	Pair Corr
0.8	PHSTX	Putnam Global Health	Pair Corr
0.76	PGVCX	Putnam U S	Pair Corr
0.75	PGSIX	Putnam U S	Pair Corr
0.75	PYTRX	Putman Absolute Return	Pair Corr
0.58	PIERX	Putnam International	Pair Corr
0.57	PICRX	Putnam International	Pair Corr
0.56	PICOX	Putnam International	Pair Corr
0.56	PIGRX	Putnam International	Pair Corr
0.54	PGLRX	Putnam Global Equity	Pair Corr

Related Correlations Analysis

	BBHLX	VOLMX	TWBIX	TGVVX	VISGX	AUERX	LANIX
BBHLX		-0.19	0.29	-0.15	-0.22	0.39	0.0	BBHLX
VOLMX	-0.19		0.77	0.98	0.97	0.7	0.97	VOLMX
TWBIX	0.29	0.77		0.81	0.78	0.87	0.89	TWBIX
TGVVX	-0.15	0.98	0.81		0.96	0.74	0.98	TGVVX
VISGX	-0.22	0.97	0.78	0.96		0.73	0.94	VISGX
AUERX	0.39	0.7	0.87	0.74	0.73		0.83	AUERX
LANIX	0.0	0.97	0.89	0.98	0.94	0.83		LANIX
	BBHLX	VOLMX	TWBIX	TGVVX	VISGX	AUERX	LANIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TGVVX	+ 0.98	VOLMX
LANIX	+ 0.98	TGVVX
VISGX	+ 0.97	VOLMX
LANIX	+ 0.97	VOLMX
VISGX	+ 0.96	TGVVX
LANIX	+ 0.94	VISGX

High negative correlations

VISGX	- 0.22	BBHLX
VOLMX	- 0.19	BBHLX
TGVVX	- 0.15	BBHLX
LANIX	- 0.0	BBHLX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Multicap Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Putnam Multicap's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBHLX	0.64	(0.10)	0.00	(0.06)	0.00	0.00	1.41	(1.28)	3.65
VOLMX	0.61	0.00	0.00	0.12	0.59	(0.71)	1.14	(1.35)	4.49
TWBIX	0.36	(0.03)	(0.17)	0.06	0.44	(0.38)	0.77	(0.92)	2.38
TGVVX	0.72	0.00	0.00	0.12	1.04	(0.67)	1.47	(1.84)	4.86
VISGX	0.83	0.07	0.09	0.17	0.86	(0.96)	1.78	(1.50)	5.31
AUERX	0.74	(0.09)	(0.08)	0.03	0.98	(0.77)	1.62	(1.45)	4.29
LANIX	0.50	(0.02)	(0.07)	0.09	0.55	(0.55)	0.99	(0.87)	3.06

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