Putnam Ultra Correlations

PSDNX Fund

USD 10.11 0.01 0.1%

The current 90-days correlation between Putnam Ultra Short and Nuveen Minnesota Municipal is 0.31 (i.e., Weak diversification). The correlation of Putnam Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between Putnam Ultra Short and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Ultra Short 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 Ultra Short. 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 board of governors.

Moving together with Putnam Mutual Fund

0.72	PEYAX	Putnam Equity Income	Pair Corr
0.91	PFICX	Putnam Floating Rate	Pair Corr
0.76	PFJAX	Putnam High Yield	Pair Corr
0.91	PFLRX	Putnam Floating Rate	Pair Corr
0.92	PFRYX	Putnam Floating Rate	Pair Corr
0.92	PFRZX	Putnam Floating Rate	Pair Corr
0.69	PGEOX	George Putnam Potential Growth	Pair Corr
0.69	PGELX	George Putnam Balanced Potential Growth	Pair Corr
0.68	PGEMX	George Putnam Potential Growth	Pair Corr
0.77	PGIOX	Putnam Global Industrials	Pair Corr
0.75	PGODX	Putnam Growth Opport	Pair Corr
0.75	PGOEX	Putnam Growth Opport	Pair Corr
0.68	PGPRX	George Putnam Potential Growth	Pair Corr
0.68	PGPCX	George Putnam Potential Growth	Pair Corr
0.62	PGTRX	Putnam Global Technology	Pair Corr
0.69	PHPDX	Putnam Retirement	Pair Corr
0.62	AABCX	Putnam Dynamic Asset	Pair Corr
0.68	PMPCX	Putnam Multi Cap	Pair Corr
0.69	PMVAX	Putnam Multi Cap	Pair Corr
0.77	PMYYX	Putnam Multicap Core	Pair Corr

Moving against Putnam Mutual Fund

0.82	PGHAX	Putnam Global Health	Pair Corr
0.59	PGEBX	George Putnam	Pair Corr
0.56	PGGEX	Putnam Global Income	Pair Corr
0.82	PHSTX	Putnam Global Health	Pair Corr
0.68	PIERX	Putnam International	Pair Corr
0.64	PGVCX	Putnam U S	Pair Corr
0.62	PGSIX	Putnam U S	Pair Corr
0.62	PINCX	Putnam Income	Pair Corr
0.61	PHSBX	Putnam Global Health	Pair Corr
0.42	PGNBX	Putnam International	Pair Corr
0.64	PMVBX	Putnam Multi Cap	Pair Corr
0.63	PNSBX	Putnam Small Cap	Pair Corr
0.61	PNGAX	Putnam International	Pair Corr
0.6	PNVAX	Putnam International	Pair Corr

Related Correlations Analysis

	FYMNX	PRINX	PCMNX	PRFHX	FAZTX	BCHIX	MDMTX
FYMNX		0.98	0.85	0.97	0.97	0.98	0.74	FYMNX
PRINX	0.98		0.91	0.98	0.98	0.98	0.82	PRINX
PCMNX	0.85	0.91		0.89	0.92	0.92	0.92	PCMNX
PRFHX	0.97	0.98	0.89		0.95	0.98	0.75	PRFHX
FAZTX	0.97	0.98	0.92	0.95		0.98	0.85	FAZTX
BCHIX	0.98	0.98	0.92	0.98	0.98		0.81	BCHIX
MDMTX	0.74	0.82	0.92	0.75	0.85	0.81		MDMTX
	FYMNX	PRINX	PCMNX	PRFHX	FAZTX	BCHIX	MDMTX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Ultra 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 Ultra'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
FYMNX	0.13	0.02	(0.30)	(0.09)	0.17	(0.20)	0.37	(0.28)	1.39
PRINX	0.16	0.02	(0.26)	(0.12)	0.21	(0.24)	0.44	(0.44)	1.59
PCMNX	0.11	0.00	(0.37)	0.09	0.18	(0.16)	0.25	(0.25)	1.07
PRFHX	0.15	0.02	(0.24)	(0.10)	0.21	(0.23)	0.44	(0.44)	1.61
FAZTX	0.14	0.02	(0.31)	(0.08)	0.19	(0.19)	0.39	(0.29)	1.38
BCHIX	0.16	0.02	(0.23)	(0.14)	0.22	(0.22)	0.41	(0.40)	1.53
MDMTX	0.17	0.01	(0.28)	0.01	0.24	(0.23)	0.38	(0.56)	1.33

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