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

0.87	PFICX	Putnam Floating Rate	Pair Corr
0.68	PFJAX	Putnam High Yield	Pair Corr
0.93	PFLRX	Putnam Floating Rate	Pair Corr
0.94	PFLLX	Putnam Floating Rate	Pair Corr
0.94	PFRYX	Putnam Floating Rate	Pair Corr
0.94	PFRZX	Putnam Floating Rate	Pair Corr
0.66	PGLEX	Putnam Global Equity	Pair Corr
0.65	PGLRX	Putnam Global Equity	Pair Corr

Moving against Putnam Mutual Fund

0.47	PGIEX	Putnam Global Industrials	Pair Corr
0.44	PGIAX	Pnc Fds Gr	Pair Corr
0.44	PGIOX	Putnam Global Industrials	Pair Corr
0.43	PGILX	Putnam Global Industrials	Pair Corr
0.7	PGTDX	Putnam Global Technology	Pair Corr
0.69	PGTRX	Putnam Global Technology	Pair Corr
0.69	PGTAX	Putnam Global Technology	Pair Corr
0.68	PGTYX	Putnam Global Technology	Pair Corr
0.51	PYSVX	Putnam Small Cap	Pair Corr
0.42	PGWTX	Putnam Focused Equity	Pair Corr

Related Correlations Analysis

	FCSCX	SMAAX	AUNTX	CGTCX	FITSX	RGVAX	USGFX
FCSCX		0.32	0.68	0.39	0.32	0.39	0.47	FCSCX
SMAAX	0.32		0.81	0.82	0.83	0.82	0.91	SMAAX
AUNTX	0.68	0.81		0.75	0.73	0.75	0.8	AUNTX
CGTCX	0.39	0.82	0.75		0.99	1.0	0.92	CGTCX
FITSX	0.32	0.83	0.73	0.99		0.99	0.92	FITSX
RGVAX	0.39	0.82	0.75	1.0	0.99		0.93	RGVAX
USGFX	0.47	0.91	0.8	0.92	0.92	0.93		USGFX
	FCSCX	SMAAX	AUNTX	CGTCX	FITSX	RGVAX	USGFX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FCSCX	0.06	0.01	0.51	(0.84)	0.00	(0.20)	0.13	(0.13)	0.67
SMAAX	0.13	0.00	0.22	(0.36)	0.17	(0.15)	0.30	(0.30)	1.09
AUNTX	0.12	0.01	0.26	1.63	0.08	(0.17)	0.28	(0.28)	1.03
CGTCX	0.26	0.04	0.29	0.32	0.20	(0.31)	0.60	(0.43)	1.64
FITSX	0.27	0.04	0.26	0.36	0.23	(0.32)	0.57	(0.46)	1.60
RGVAX	0.26	0.04	0.28	0.35	0.20	(0.33)	0.60	(0.43)	1.72
USGFX	0.25	0.03	0.29	(0.37)	0.17	(0.33)	0.59	(0.42)	1.62

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