Putnam Short Correlations

PSDTX Fund  USD 10.13  0.00  0.00%   
The current 90-days correlation between Putnam Short Duration and Franklin Adjustable Government is 0.69 (i.e., Poor 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 -0.14 (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 estimate.

Moving together with Putnam Mutual Fund

  0.87PFICX Putnam Floating RatePairCorr
  0.68PFJAX Putnam High YieldPairCorr
  0.93PFLRX Putnam Floating RatePairCorr
  0.94PFLLX Putnam Floating RatePairCorr
  0.94PFRYX Putnam Floating RatePairCorr
  0.94PFRZX Putnam Floating RatePairCorr
  0.66PGLEX Putnam Global EquityPairCorr
  0.65PGLRX Putnam Global EquityPairCorr

Moving against Putnam Mutual Fund

  0.47PGIEX Putnam Global IndustrialsPairCorr
  0.44PGIAX Pnc Fds GrPairCorr
  0.44PGIOX Putnam Global IndustrialsPairCorr
  0.43PGILX Putnam Global IndustrialsPairCorr
  0.7PGTDX Putnam Global TechnologyPairCorr
  0.69PGTRX Putnam Global TechnologyPairCorr
  0.69PGTAX Putnam Global TechnologyPairCorr
  0.68PGTYX Putnam Global TechnologyPairCorr
  0.51PYSVX Putnam Small CapPairCorr
  0.42PGWTX Putnam Focused EquityPairCorr

Related Correlations Analysis

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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.