Putnam Multi-cap Correlations

PNORX Fund  USD 108.71  1.69  1.58%   
The current 90-days correlation between Putnam Multi Cap and Bmo In Retirement Fund is -0.04 (i.e., Good diversification). The correlation of Putnam Multi-cap 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-cap Correlation With Market

Poor diversification

The correlation between Putnam Multi Cap Growth and DJI is 0.72 (i.e., Poor 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

  0.96PGEYX George PutnamPairCorr
  0.96PGEJX George Putnam BalancedPairCorr
  0.96PGEOX George PutnamPairCorr
  0.96PGELX George Putnam BalancedPairCorr
  0.97PGEMX George PutnamPairCorr
  0.98PGIAX Pnc Fds GrPairCorr
  0.98PGIEX Putnam Global IndustrialsPairCorr
  0.98PGIOX Putnam Global IndustrialsPairCorr
  0.98PGILX Putnam Global IndustrialsPairCorr
  0.98PGODX Putnam Growth OpportPairCorr
  0.98PGOEX Putnam Growth OpportPairCorr
  0.97PGPRX George PutnamPairCorr
  0.98PGORX Putnam Growth OpportPairCorr
  0.98PGOYX Putnam Growth OpportPairCorr
  0.97PGPCX George PutnamPairCorr

Moving against Putnam Mutual Fund

  0.53PGBRX Putnam Global IncomePairCorr
  0.54PGGYX Putnam Global IncmPairCorr
  0.54PGGDX Putnam Global IncomePairCorr
  0.53PGGEX Putnam Global IncomePairCorr
  0.53PGGIX Putnam Global IncomePairCorr
  0.53PGLEX Putnam Global EquityPairCorr
  0.53PGLRX Putnam Global EquityPairCorr
  0.5PGGLX Putnam Global IncmPairCorr
  0.58PYSTX Putnam Short TermPairCorr
  0.55PGSIX Putnam U SPairCorr
  0.36PGVRX Putnam U SPairCorr
  0.35PGVCX Putnam U SPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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