Putnam U Correlations

PUSYX Fund

USD 8.30 0.02 0.24%

The current 90-days correlation between Putnam U S and George Putnam Fund is 0.24 (i.e., Modest diversification). The correlation of Putnam U 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 U Correlation With Market

Significant diversification

The correlation between Putnam U S and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam U S 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 U S. 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

0.81	PEXTX	Putnam Tax Exempt	Pair Corr
0.82	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.76	PXMNX	Putnam Minnesota Tax	Pair Corr
0.81	PXOHX	Putnam Ohio Tax	Pair Corr
0.92	PGBRX	Putnam Global Income	Pair Corr
0.94	PGGYX	Putnam Global Incm	Pair Corr
0.92	PGGDX	Putnam Global Income	Pair Corr
0.86	PGGEX	Putnam Global Income	Pair Corr
0.86	PGGLX	Putnam Global Incm	Pair Corr
0.95	PGGIX	Putnam Global Income	Pair Corr
0.63	PGLEX	Putnam Global Equity	Pair Corr
0.63	PGLRX	Putnam Global Equity	Pair Corr

Moving against Putnam Mutual Fund

0.63	PGIAX	Pnc Fds Gr	Pair Corr
0.63	PGILX	Putnam Global Industrials	Pair Corr
0.62	PGIEX	Putnam Global Industrials	Pair Corr
0.6	PGELX	George Putnam Balanced	Pair Corr
0.58	PFICX	Putnam Floating Rate	Pair Corr
0.57	PFRYX	Putnam Floating Rate	Pair Corr
0.57	PFRZX	Putnam Floating Rate	Pair Corr
0.56	PFLRX	Putnam Floating Rate	Pair Corr
0.56	PFLLX	Putnam Floating Rate	Pair Corr
0.56	PGEYX	George Putnam	Pair Corr
0.55	PGEOX	George Putnam	Pair Corr
0.47	PEYAX	Putnam Equity Income	Pair Corr
0.44	PGIOX	Putnam Global Industrials	Pair Corr
0.64	PGWTX	Putnam Focused Equity	Pair Corr
0.59	PGPRX	George Putnam	Pair Corr
0.53	PGPCX	George Putnam	Pair Corr
0.51	PGOYX	Putnam Growth Opport	Pair Corr
0.5	PGOEX	Putnam Growth Opport	Pair Corr
0.5	PGTYX	Putnam Global Technology	Pair Corr
0.49	PGTRX	Putnam Global Technology	Pair Corr
0.49	PGTDX	Putnam Global Technology	Pair Corr
0.49	PGTAX	Putnam Global Technology	Pair Corr
0.36	PGODX	Putnam Growth Opport	Pair Corr

Related Correlations Analysis

	PGEOX	PEYAX	POVSX	PABAX	PACAX
PGEOX		0.57	-0.26	0.37	-0.04	PGEOX
PEYAX	0.57		-0.46	0.47	0.04	PEYAX
POVSX	-0.26	-0.46		-0.21	0.4	POVSX
PABAX	0.37	0.47	-0.21		0.71	PABAX
PACAX	-0.04	0.04	0.4	0.71		PACAX
	PGEOX	PEYAX	POVSX	PABAX	PACAX

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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

PACAX	+ 0.71	PABAX
PEYAX	+ 0.57	PGEOX
PABAX	+ 0.47	PEYAX
PACAX	+ 0.4	POVSX
PABAX	+ 0.37	PGEOX
PACAX	+ 0.04	PEYAX

High negative correlations

POVSX	- 0.46	PEYAX
POVSX	- 0.26	PGEOX
PABAX	- 0.21	POVSX
PACAX	- 0.04	PGEOX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam U 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 U'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
PGEOX	0.39	(0.02)	(0.11)	0.07	0.66	(0.40)	0.82	(0.79)	4.55
PEYAX	0.53	(0.11)	0.00	(0.02)	0.00	0.00	0.95	(0.78)	8.00
POVSX	0.60	(0.05)	(0.16)	(0.01)	0.73	(0.59)	1.23	(1.01)	3.71
PABAX	0.33	0.02	(0.09)	0.17	0.27	(0.37)	0.74	(0.63)	2.19
PACAX	0.23	(0.01)	(0.28)	0.08	0.22	(0.26)	0.54	(0.55)	1.19

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