Putnam Short Correlations

PSDRX Fund

USD 10.10 0.00 0.00%

The current 90-days correlation between Putnam Short Duration and Virtus Global Real is 0.04 (i.e., Significant diversification). The correlation of Putnam Short 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 Short Correlation With Market

Good diversification

The correlation between Putnam Short Duration and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Short Duration 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 Short Duration. 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

0.73	PEYAX	Putnam Equity Income	Pair Corr
0.93	PFICX	Putnam Floating Rate	Pair Corr
0.75	PFJAX	Putnam High Yield	Pair Corr
0.93	PFLRX	Putnam Floating Rate	Pair Corr
0.94	PFRYX	Putnam Floating Rate	Pair Corr
0.93	PFRZX	Putnam Floating Rate	Pair Corr
0.69	PGEOX	George Putnam Potential Growth	Pair Corr
0.7	PGELX	George Putnam Balanced Potential Growth	Pair Corr
0.68	PGEMX	George Putnam Potential Growth	Pair Corr
0.79	PGIOX	Putnam Global Industrials	Pair Corr
0.76	PGODX	Putnam Growth Opport	Pair Corr
0.76	PGOEX	Putnam Growth Opport	Pair Corr
0.69	PGPRX	George Putnam Potential Growth	Pair Corr
0.68	PGPCX	George Putnam Potential Growth	Pair Corr
0.63	PGTRX	Putnam Global Technology	Pair Corr
0.69	PHPDX	Putnam Retirement	Pair Corr
0.61	AABCX	Putnam Dynamic Asset	Pair Corr
0.69	PMPCX	Putnam Multi Cap	Pair Corr
0.65	PMOTX	Putnam Mortgage Opport	Pair Corr
0.7	PMVAX	Putnam Multi Cap	Pair Corr
0.78	PMYYX	Putnam Multicap Core	Pair Corr

Moving against Putnam Mutual Fund

0.84	PGHAX	Putnam Global Health	Pair Corr
0.61	PGGEX	Putnam Global Income	Pair Corr
0.56	PGEBX	George Putnam	Pair Corr
0.85	PHSTX	Putnam Global Health	Pair Corr
0.7	PIERX	Putnam International	Pair Corr
0.68	PGVCX	Putnam U S	Pair Corr
0.67	PGSIX	Putnam U S	Pair Corr
0.67	PINCX	Putnam Income	Pair Corr
0.58	PHSBX	Putnam Global Health	Pair Corr
0.4	PGNBX	Putnam International	Pair Corr
0.64	PNGAX	Putnam International	Pair Corr
0.63	PNVAX	Putnam International	Pair Corr
0.6	PMVBX	Putnam Multi Cap	Pair Corr
0.59	PNSBX	Putnam Small Cap	Pair Corr

Related Correlations Analysis

	VGSAX	RMDAX	VLPAX	AQUI	LBHIX	MSTSX	ABHYX	SCAXF	VIASP	RRTLX
VGSAX		-0.49	-0.58	0.0	-0.01	-0.03	0.51	0.44	-0.45	0.21	VGSAX
RMDAX	-0.49		0.95	0.0	0.66	0.63	0.02	-0.69	0.64	0.64	RMDAX
VLPAX	-0.58	0.95		0.0	0.59	0.41	-0.02	-0.81	0.79	0.43	VLPAX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
LBHIX	-0.01	0.66	0.59	0.0		0.68	0.56	-0.35	0.26	0.74	LBHIX
MSTSX	-0.03	0.63	0.41	0.0	0.68		0.27	-0.04	-0.05	0.86	MSTSX
ABHYX	0.51	0.02	-0.02	0.0	0.56	0.27		-0.1	-0.12	0.42	ABHYX
SCAXF	0.44	-0.69	-0.81	0.0	-0.35	-0.04	-0.1		-0.82	-0.16	SCAXF
VIASP	-0.45	0.64	0.79	0.0	0.26	-0.05	-0.12	-0.82		0.1	VIASP
RRTLX	0.21	0.64	0.43	0.0	0.74	0.86	0.42	-0.16	0.1		RRTLX
	VGSAX	RMDAX	VLPAX	AQUI	LBHIX	MSTSX	ABHYX	SCAXF	VIASP	RRTLX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VLPAX	+ 0.95	RMDAX
RRTLX	+ 0.86	MSTSX
VIASP	+ 0.79	VLPAX
RRTLX	+ 0.74	LBHIX
MSTSX	+ 0.68	LBHIX
LBHIX	+ 0.66	RMDAX

High negative correlations

VIASP	- 0.82	SCAXF
SCAXF	- 0.81	VLPAX
SCAXF	- 0.69	RMDAX
VLPAX	- 0.58	VGSAX
RMDAX	- 0.49	VGSAX
VIASP	- 0.45	VGSAX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Short 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 Short'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
VGSAX	0.59	(0.01)	(0.14)	0.04	0.74	(0.62)	1.07	(1.37)	3.36
RMDAX	0.77	0.10	0.09	0.20	0.81	(0.90)	1.98	(1.28)	4.47
VLPAX	0.66	0.21	0.20	0.62	0.33	(0.83)	1.39	(0.95)	4.20
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.22)	(0.11)	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.37)	0.00	(33.24)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	(0.03)	(0.31)	0.03	0.26	(0.26)	0.48	(0.56)	1.36

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC