Putnam Small Correlations

PYSVX Fund

USD 15.80 0.13 0.82%

The current 90-days correlation between Putnam Small Cap and Intal High Relative is -0.14 (i.e., Good diversification). The correlation of Putnam Small 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 Small Correlation With Market

Good diversification

The correlation between Putnam Small Cap and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Small Cap 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 Small Cap. 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 real.

Moving together with Putnam Mutual Fund

0.97	VSIIX	Vanguard Small Cap	Pair Corr
0.97	VISVX	Vanguard Small Cap	Pair Corr
0.96	DFSVX	Us Small Cap	Pair Corr
0.97	DFFVX	Us Targeted Value	Pair Corr
0.95	UBVCX	Undiscovered Managers	Pair Corr
0.95	UBVAX	Undiscovered Managers	Pair Corr
0.95	UBVSX	Undiscovered Managers	Pair Corr
0.96	AVFIX	American Beacon Small	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.68	WMT	Walmart	Pair Corr
0.71	BA	Boeing	Pair Corr
0.85	AXP	American Express	Pair Corr
0.82	BAC	Bank of America	Pair Corr

Moving against Putnam Mutual Fund

0.56	VZ	Verizon Communications	Pair Corr
0.53	JNJ	Johnson Johnson	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.31	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	DIHRX	VIPIX	FMUUX	FZNQEX	FFCDAX	EICVX
DIHRX		0.75	0.91	0.74	0.26	0.8	DIHRX
VIPIX	0.75		0.69	0.82	0.25	0.9	VIPIX
FMUUX	0.91	0.69		0.73	0.23	0.66	FMUUX
FZNQEX	0.74	0.82	0.73		0.34	0.69	FZNQEX
FFCDAX	0.26	0.25	0.23	0.34		0.28	FFCDAX
EICVX	0.8	0.9	0.66	0.69	0.28		EICVX
	DIHRX	VIPIX	FMUUX	FZNQEX	FFCDAX	EICVX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Small 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 Small'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
DIHRX	0.60	0.10	0.16	0.13	0.68	(0.69)	1.51	(1.19)	3.80
VIPIX	0.21	0.05	0.42	0.80	0.00	(0.27)	0.53	(0.42)	1.30
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40
FZNQEX	0.08	(0.01)	0.54	(2.16)	0.09	(0.08)	0.16	(0.16)	0.48
FFCDAX	0.12	0.00	0.00	(0.12)	0.00	0.00	0.21	(0.41)	1.14
EICVX	0.55	0.10	0.22	1.65	0.55	(0.59)	1.12	(0.85)	2.93

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