Putnam Global Correlations

PGFMX Fund

USD 10.50 0.06 0.57%

The current 90-days correlation between Putnam Global Financials and Health Biotchnology Portfolio is -0.1 (i.e., Good 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

Very good diversification

The correlation between Putnam Global Financials and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Financials 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 Financials. 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 population.

Moving together with Putnam Mutual Fund

0.81	PEYAX	Putnam Equity Income	Pair Corr
0.68	PEXTX	Putnam Tax Exempt	Pair Corr
0.89	PFJAX	Putnam High Yield	Pair Corr
0.63	PFRZX	Putnam Floating Rate	Pair Corr
0.66	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.69	PXMNX	Putnam Minnesota Tax	Pair Corr
0.68	PXOHX	Putnam Ohio Tax	Pair Corr
0.79	PGHAX	Putnam Global Health	Pair Corr

Related Correlations Analysis

	SBHIX	BGSCX	HTECX	JAGTX	USTCX	PTTEX
SBHIX		-0.21	0.06	-0.16	-0.17	-0.37	SBHIX
BGSCX	-0.21		0.95	0.92	0.99	0.85	BGSCX
HTECX	0.06	0.95		0.89	0.96	0.75	HTECX
JAGTX	-0.16	0.92	0.89		0.92	0.92	JAGTX
USTCX	-0.17	0.99	0.96	0.92		0.84	USTCX
PTTEX	-0.37	0.85	0.75	0.92	0.84		PTTEX
	SBHIX	BGSCX	HTECX	JAGTX	USTCX	PTTEX

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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

USTCX	+ 0.99	BGSCX
USTCX	+ 0.96	HTECX
HTECX	+ 0.95	BGSCX
JAGTX	+ 0.92	BGSCX
USTCX	+ 0.92	JAGTX
PTTEX	+ 0.92	JAGTX

High negative correlations

PTTEX	- 0.37	SBHIX
BGSCX	- 0.21	SBHIX
USTCX	- 0.17	SBHIX
JAGTX	- 0.16	SBHIX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SBHIX	0.64	0.01	0.01	0.02	0.76	(0.68)	1.20	(1.17)	3.37
BGSCX	1.48	(0.16)	0.00	(0.12)	0.00	0.00	2.37	(3.68)	9.08
HTECX	1.14	(0.10)	0.00	(0.09)	0.00	0.00	1.67	(3.14)	5.92
JAGTX	1.20	(0.12)	0.00	0.45	0.00	0.00	2.00	(3.18)	6.40
USTCX	1.37	(0.16)	0.00	(0.12)	0.00	0.00	2.71	(3.95)	7.33
PTTEX	1.40	(0.25)	0.00	0.93	0.00	0.00	1.97	(3.76)	7.89

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