Putnam Short Correlations

Mutual Funds . USA . 
Fund . Putnam Short Duration
PSDYX Fund  USD 10.13  0.01  0.1%   
The current 90-days correlation between Putnam Short Duration and Short Term Government Fund is 0.11 (i.e., Average 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

Significant diversification

The correlation between Putnam Short Duration and DJI is 0.07 (i.e., Significant 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 manufacturing.

Moving together with Putnam Mutual Fund

  0.62PEXTX Putnam Tax ExemptPairCorr
  0.69PGHAX Putnam Global HealthPairCorr
  0.84PGGDX Putnam Global IncomePairCorr
  0.86PGLEX Putnam Global EquityPairCorr
  0.85PGLRX Putnam Global EquityPairCorr
  0.88PGP Pimco Global StocksplusPairCorr
  0.69PHSYX Putnam Global HealthPairCorr
  0.91PIGWX Putnam Intl ValuePairCorr
  0.88PINCX Putnam IncomePairCorr
  0.89PINHX Putnam Income FdPairCorr
  0.73PIMEX Putnam Int TermPairCorr
  0.76PIMRX Putnam IntermediatePairCorr
  0.93PMOYX Putnam Mortgage OppoPairCorr
  0.64PMNYX Putnam MinnesotaPairCorr
  0.93PMOTX Putnam Mortgage OpportPairCorr

Moving against Putnam Mutual Fund

  0.81PGTRX Putnam Global TechnologyPairCorr
  0.81PGTYX Putnam Global TechnologyPairCorr
  0.81PGTDX Putnam Global TechnologyPairCorr
  0.81PGTAX Putnam Global TechnologyPairCorr
  0.72PGODX Putnam Growth OpportPairCorr
  0.72PGOYX Putnam Growth OpportPairCorr
  0.53PGIEX Putnam Global IndustrialsPairCorr
  0.51PGWTX Putnam Focused EquityPairCorr
  0.5PGEMX George PutnamPairCorr
  0.49PGPRX George PutnamPairCorr
  0.48PGEOX George PutnamPairCorr
  0.65PNOCX Putnam Multi CapPairCorr
  0.65PNORX Putnam Multi CapPairCorr
  0.64PNOYX Putnam Multi CapPairCorr
  0.63PMPCX Putnam Multi CapPairCorr
  0.62PMVRX Putnam Multi CapPairCorr
  0.62PMVYX Putnam Multi CapPairCorr
  0.62PMVAX Putnam Multi CapPairCorr
  0.57PMYCX Putnam Multicap CorePairCorr

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.

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