Putnam Ohio Correlations

PXOHX Fund

USD 8.30 0.01 0.12%

The current 90-days correlation between Putnam Ohio Tax and Blackrock Moderate Prepared is 0.36 (i.e., Weak diversification). The correlation of Putnam Ohio 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 Ohio Correlation With Market

Modest diversification

The correlation between Putnam Ohio Tax and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Ohio Tax 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 Ohio Tax. 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 rate.

Moving together with Putnam Mutual Fund

1.0	PEXTX	Putnam Tax Exempt	Pair Corr
0.75	PFJAX	Putnam High Yield	Pair Corr
0.62	PFRZX	Putnam Floating Rate	Pair Corr
0.98	PXMAX	Putnam Massachusetts Tax	Pair Corr
1.0	PXMNX	Putnam Minnesota Tax	Pair Corr
0.64	PGFMX	Putnam Global Financials	Pair Corr
0.77	PGGYX	Putnam Global Incm	Pair Corr
0.74	PGHAX	Putnam Global Health	Pair Corr
0.78	PGGDX	Putnam Global Income	Pair Corr
0.77	PGGEX	Putnam Global Income	Pair Corr
0.79	PGGLX	Putnam Global Incm	Pair Corr
0.78	PGGIX	Putnam Global Income	Pair Corr
0.63	PGLEX	Putnam Global Equity	Pair Corr
0.63	PGLRX	Putnam Global Equity	Pair Corr
0.78	PGSIX	Putnam U S	Pair Corr

Related Correlations Analysis

	BIMPX	SRJIX	TRBSX	MARMX	JULMX	MXBPX	ASMUX
BIMPX		0.91	0.96	0.94	0.93	0.96	0.97	BIMPX
SRJIX	0.91		0.89	0.86	0.95	0.91	0.91	SRJIX
TRBSX	0.96	0.89		0.84	0.87	0.94	0.99	TRBSX
MARMX	0.94	0.86	0.84		0.93	0.94	0.87	MARMX
JULMX	0.93	0.95	0.87	0.93		0.93	0.9	JULMX
MXBPX	0.96	0.91	0.94	0.94	0.93		0.96	MXBPX
ASMUX	0.97	0.91	0.99	0.87	0.9	0.96		ASMUX
	BIMPX	SRJIX	TRBSX	MARMX	JULMX	MXBPX	ASMUX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Ohio 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 Ohio'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
BIMPX	0.37	0.02	0.13	(0.01)	0.44	(0.42)	0.77	(0.86)	2.19
SRJIX	0.54	(0.02)	0.00	(0.10)	0.00	0.00	1.00	(1.31)	2.91
TRBSX	0.67	0.04	0.06	(0.01)	0.90	(0.67)	1.25	(1.45)	4.12
MARMX	0.25	0.02	0.21	0.02	0.26	(0.30)	0.54	(0.45)	1.44
JULMX	0.31	0.01	0.00	(0.04)	0.00	0.00	0.65	(0.65)	1.89
MXBPX	0.46	0.05	0.13	0.03	0.53	(0.56)	1.01	(0.97)	3.11
ASMUX	0.47	0.03	0.11	0.00	0.57	(0.50)	0.93	(0.91)	2.49

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Putnam Ohio Correlations

Putnam Ohio Correlation With Market

Modest diversification

Moving together with Putnam Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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