Putnam Global Correlations

PGHAX Fund

USD 67.31 0.34 0.51%

The current 90-days correlation between Putnam Global Health and The Hartford Healthcare is -0.09 (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

Good diversification

The correlation between Putnam Global Health and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Health 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 Health. 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 nation.

Moving together with Putnam Mutual Fund

0.65	PEYAX	Putnam Equity Income	Pair Corr
0.74	PEXTX	Putnam Tax Exempt	Pair Corr
0.78	PFJAX	Putnam High Yield	Pair Corr
0.63	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.73	PXMNX	Putnam Minnesota Tax	Pair Corr
0.72	PXOHX	Putnam Ohio Tax	Pair Corr
0.73	PGBRX	Putnam Global Income	Pair Corr
0.77	PGFMX	Putnam Global Financials	Pair Corr
0.81	PGGYX	Putnam Global Incm	Pair Corr
0.82	PGGDX	Putnam Global Income	Pair Corr
0.82	PGGEX	Putnam Global Income	Pair Corr
0.74	PGGLX	Putnam Global Incm	Pair Corr
0.74	PGGIX	Putnam Global Income	Pair Corr
0.81	PGLEX	Putnam Global Equity	Pair Corr
0.72	PGLRX	Putnam Global Equity	Pair Corr

Moving against Putnam Mutual Fund

0.35	PGTRX	Putnam Global Technology	Pair Corr
0.34	PGTYX	Putnam Global Technology	Pair Corr
0.34	PGTAX	Putnam Global Technology	Pair Corr

Related Correlations Analysis

	HGHYX	HIAHX	VGHCX	DLRHX	SUHIX	LOGSX	PGHAX	SWHFX
HGHYX		0.89	0.37	0.69	0.82	0.64	0.57	0.49	HGHYX
HIAHX	0.89		0.45	0.54	0.7	0.54	0.61	0.51	HIAHX
VGHCX	0.37	0.45		0.56	0.54	0.43	0.6	0.62	VGHCX
DLRHX	0.69	0.54	0.56		0.92	0.73	0.87	0.86	DLRHX
SUHIX	0.82	0.7	0.54	0.92		0.84	0.86	0.85	SUHIX
LOGSX	0.64	0.54	0.43	0.73	0.84		0.69	0.72	LOGSX
PGHAX	0.57	0.61	0.6	0.87	0.86	0.69		0.98	PGHAX
SWHFX	0.49	0.51	0.62	0.86	0.85	0.72	0.98		SWHFX
	HGHYX	HIAHX	VGHCX	DLRHX	SUHIX	LOGSX	PGHAX	SWHFX

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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
HGHYX	0.66	0.03	0.05	0.01	0.75	(0.81)	1.41	(1.15)	4.37
HIAHX	0.67	0.02	0.07	(0.33)	0.72	(0.85)	1.39	(1.15)	4.43
VGHCX	0.77	(0.14)	0.00	0.42	0.00	0.00	1.49	(1.50)	8.17
DLRHX	0.59	0.06	0.12	0.08	0.59	(0.76)	1.29	(1.07)	3.41
SUHIX	0.62	0.07	0.13	0.10	0.62	(0.75)	1.29	(1.03)	3.73
LOGSX	0.67	0.02	0.04	0.01	0.90	(0.71)	1.18	(1.14)	3.51
PGHAX	0.61	0.09	0.17	(2.69)	0.57	(0.70)	1.33	(1.00)	4.12
SWHFX	0.59	0.00	0.21	0.00	0.45	(0.70)	1.29	(1.11)	3.30

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