Putnam Multi Correlations

PNORX Fund  USD 114.72  1.90  1.68%   
The current 90-days correlation between Putnam Multi Cap and Access Capital Munity is 0.18 (i.e., Average diversification). The correlation of Putnam Multi 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 Multi Correlation With Market

Weak diversification

The correlation between Putnam Multi Cap Growth and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Multi Cap Growth 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 Multi Cap Growth. 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 metropolitan statistical area.

Moving together with Putnam Mutual Fund

  0.81PEYAX Putnam Equity IncomePairCorr
  0.69PGEYX George PutnamPairCorr
  0.63PGEOX George PutnamPairCorr
  0.63PGELX George Putnam BalancedPairCorr
  0.71PGEMX George PutnamPairCorr
  0.62PGHAX Putnam Global HealthPairCorr
  0.97PGIAX Pnc Fds GrPairCorr
  0.97PGIOX Putnam Global IndustrialsPairCorr
  0.97PGILX Putnam Global IndustrialsPairCorr
  0.69PGODX Putnam Growth OpportPairCorr
  0.69PGOEX Putnam Growth OpportPairCorr
  0.7PGPRX George PutnamPairCorr
  0.74PGORX Putnam Growth OpportPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Multi 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 Multi'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.