Putnam Short Correlations

PSDTX Fund

USD 10.13 0.01 0.1%

The current 90-days correlation between Putnam Short Duration and Transamerica Capital Growth is -0.12 (i.e., Good 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 -0.12 (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

0.68	PEXTX	Putnam Tax Exempt	Pair Corr
0.66	PXOHX	Putnam Ohio Tax	Pair Corr
0.74	PGHAX	Putnam Global Health	Pair Corr
0.89	PGGDX	Putnam Global Income	Pair Corr
0.87	PGLEX	Putnam Global Equity	Pair Corr
0.86	PGLRX	Putnam Global Equity	Pair Corr
0.66	PGP	Pimco Global Stocksplus	Pair Corr
0.78	PHSYX	Putnam Global Health	Pair Corr
0.91	PIGWX	Putnam Intl Value	Pair Corr
0.79	PINCX	Putnam Income	Pair Corr
0.92	PINHX	Putnam Income Fd	Pair Corr
0.76	PIMEX	Putnam Int Term	Pair Corr
0.79	PIMRX	Putnam Intermediate	Pair Corr
0.92	PMOYX	Putnam Mortgage Oppo	Pair Corr
0.7	PMNYX	Putnam Minnesota	Pair Corr
0.61	PMOCX	Putnam Mn Tax	Pair Corr
0.92	PMOTX	Putnam Mortgage Opport	Pair Corr

Moving against Putnam Mutual Fund

0.76	PGTRX	Putnam Global Technology	Pair Corr
0.76	PGTDX	Putnam Global Technology	Pair Corr
0.73	PGODX	Putnam Growth Opport	Pair Corr
0.73	PGOYX	Putnam Growth Opport	Pair Corr
0.56	PGIEX	Putnam Global Industrials	Pair Corr
0.55	PGWTX	Putnam Focused Equity	Pair Corr
0.52	PGEMX	George Putnam	Pair Corr
0.51	PGPRX	George Putnam	Pair Corr
0.47	PGTYX	Putnam Global Technology	Pair Corr
0.46	PGTAX	Putnam Global Technology	Pair Corr
0.39	PGEOX	George Putnam	Pair Corr
0.67	PNOCX	Putnam Multi Cap	Pair Corr
0.67	PNORX	Putnam Multi Cap	Pair Corr
0.66	PMPCX	Putnam Multi Cap	Pair Corr
0.65	PMVRX	Putnam Multi Cap	Pair Corr
0.65	PMVYX	Putnam Multi Cap	Pair Corr
0.65	PMVAX	Putnam Multi Cap	Pair Corr
0.6	PMYCX	Putnam Multicap Core	Pair Corr
0.54	PNOYX	Putnam Multi Cap	Pair Corr

Related Correlations Analysis

	TAAEX	BGGKX	UPDDX	GCIGX	PIGDX	EIPFX	FGTZX	AUERX
TAAEX		0.99	0.88	0.01	0.05	0.27	0.86	0.85	TAAEX
BGGKX	0.99		0.89	0.03	0.08	0.27	0.87	0.83	BGGKX
UPDDX	0.88	0.89		-0.03	0.08	0.37	0.88	0.8	UPDDX
GCIGX	0.01	0.03	-0.03		0.85	0.43	0.38	-0.26	GCIGX
PIGDX	0.05	0.08	0.08	0.85		0.61	0.42	-0.14	PIGDX
EIPFX	0.27	0.27	0.37	0.43	0.61		0.54	0.33	EIPFX
FGTZX	0.86	0.87	0.88	0.38	0.42	0.54		0.67	FGTZX
AUERX	0.85	0.83	0.8	-0.26	-0.14	0.33	0.67		AUERX
	TAAEX	BGGKX	UPDDX	GCIGX	PIGDX	EIPFX	FGTZX	AUERX

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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

BGGKX	+ 0.99	TAAEX
UPDDX	+ 0.89	BGGKX
UPDDX	+ 0.88	TAAEX
FGTZX	+ 0.88	UPDDX
FGTZX	+ 0.87	BGGKX
FGTZX	+ 0.86	TAAEX

High negative correlations

AUERX	- 0.26	GCIGX
AUERX	- 0.14	PIGDX
GCIGX	- 0.03	UPDDX

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
TAAEX	1.68	(0.10)	0.00	(0.14)	0.00	0.00	3.09	(3.20)	9.89
BGGKX	1.54	(0.08)	0.00	(0.13)	0.00	0.00	2.77	(4.38)	8.15
UPDDX	2.00	(0.01)	0.00	(0.07)	0.00	0.00	3.22	(5.01)	15.30
GCIGX	0.81	0.02	0.00	(0.03)	0.00	0.00	1.83	(2.11)	6.40
PIGDX	0.82	0.09	0.09	0.07	1.12	(0.85)	1.84	(1.68)	7.09
EIPFX	0.83	0.01	0.00	(0.04)	0.00	0.00	1.69	(1.72)	7.28
FGTZX	0.61	(0.01)	0.00	(0.08)	0.00	0.00	1.01	(1.25)	3.38
AUERX	0.84	(0.06)	0.00	(0.15)	0.00	0.00	1.57	(2.24)	4.19

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