Putnam Global Correlations

PEQUX Fund

USD 15.12 0.02 0.13%

The current 90-days correlation between Putnam Global Equity and Putnam Equity Income is 0.31 (i.e., Weak diversification). The correlation of Putnam Global 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 Global Correlation With Market

Weak diversification

The correlation between Putnam Global Equity and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Equity 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 Global Equity. 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 employment.

Moving together with Putnam Mutual Fund

0.9	PGBRX	Putnam Global Income	Pair Corr
0.87	PGGYX	Putnam Global Incm	Pair Corr
0.79	PGHAX	Putnam Global Health	Pair Corr
0.9	PGGDX	Putnam Global Income	Pair Corr
0.91	PGGEX	Putnam Global Income	Pair Corr
0.92	PGGLX	Putnam Global Incm	Pair Corr
0.87	PGGIX	Putnam Global Income	Pair Corr
1.0	PGLEX	Putnam Global Equity	Pair Corr
1.0	PGLRX	Putnam Global Equity	Pair Corr

Moving against Putnam Mutual Fund

0.81	PFLLX	Putnam Floating Rate	Pair Corr
0.8	PFRYX	Putnam Floating Rate	Pair Corr
0.8	PFRZX	Putnam Floating Rate	Pair Corr
0.79	PFICX	Putnam Floating Rate	Pair Corr
0.79	PFLRX	Putnam Floating Rate	Pair Corr
0.53	PGIOX	Putnam Global Industrials	Pair Corr
0.42	PGEJX	George Putnam Balanced	Pair Corr
0.35	PGEMX	George Putnam	Pair Corr
0.32	PGILX	Putnam Global Industrials	Pair Corr
0.65	PGOEX	Putnam Growth Opport	Pair Corr
0.65	PGOYX	Putnam Growth Opport	Pair Corr
0.56	PGODX	Putnam Growth Opport	Pair Corr
0.52	PGORX	Putnam Growth Opport	Pair Corr
0.43	PGTYX	Putnam Global Technology	Pair Corr
0.43	PYSVX	Putnam Small Cap	Pair Corr
0.42	PGTRX	Putnam Global Technology	Pair Corr
0.41	PGTDX	Putnam Global Technology	Pair Corr

Related Correlations Analysis

	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRBX	PFRYX	PFRZX	PXMAX
PEYAX		0.14	-0.03	-0.08	0.01	-0.02	0.0	0.01	-0.03	0.0	PEYAX
PEXTX	0.14		-0.16	0.52	-0.14	-0.16	0.0	-0.15	-0.16	0.9	PEXTX
PFICX	-0.03	-0.16		0.53	0.98	0.99	0.0	0.97	0.99	-0.18	PFICX
PFJAX	-0.08	0.52	0.53		0.55	0.56	0.0	0.54	0.54	0.52	PFJAX
PFLRX	0.01	-0.14	0.98	0.55		0.98	0.0	1.0	0.98	-0.17	PFLRX
PFLLX	-0.02	-0.16	0.99	0.56	0.98		0.0	0.98	1.0	-0.18	PFLLX
PFRBX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PFRBX
PFRYX	0.01	-0.15	0.97	0.54	1.0	0.98	0.0		0.98	-0.18	PFRYX
PFRZX	-0.03	-0.16	0.99	0.54	0.98	1.0	0.0	0.98		-0.19	PFRZX
PXMAX	0.0	0.9	-0.18	0.52	-0.17	-0.18	0.0	-0.18	-0.19		PXMAX
	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRBX	PFRYX	PFRZX	PXMAX

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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

PFRYX	+ 1.0	PFLRX
PFRZX	+ 1.0	PFLLX
PFLLX	+ 0.99	PFICX
PFRZX	+ 0.99	PFICX
PFLRX	+ 0.98	PFICX
PFLLX	+ 0.98	PFLRX

High negative correlations

PXMAX	- 0.19	PFRZX
PXMAX	- 0.18	PFRYX
PXMAX	- 0.18	PFLLX
PXMAX	- 0.18	PFICX
PXMAX	- 0.17	PFLRX
PFRZX	- 0.16	PEXTX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Global 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 Global'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PEYAX	0.55	(0.14)	0.00	(0.15)	0.00	0.94	(0.81)	8.00
PEXTX	0.21	(0.04)	0.00	0.63	0.00	0.38	(0.50)	1.66
PFICX	0.06	0.01	(0.07)	3.25	(0.22)	0.13	(0.13)	0.76
PFJAX	0.09	(0.01)	0.00	(1.87)	0.00	0.19	(0.19)	0.74
PFLRX	0.06	0.01	0.00	0.88	0.00	0.13	(0.12)	0.76
PFLLX	0.05	0.01	0.00	2.70	0.00	0.13	(0.12)	0.63
PFRBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFRYX	0.06	0.01	0.00	0.56	0.00	0.13	(0.12)	0.89
PFRZX	0.07	0.02	(0.05)	(2.87)	(0.23)	0.13	(0.13)	0.76
PXMAX	0.18	(0.04)	0.00	(0.70)	0.00	0.33	(0.44)	1.44

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