Putnam Global Correlations

PGILX Fund  USD 38.95  0.17  0.43%   
The current 90-days correlation between Putnam Global Industrials and Dodge Cox Stock is 0.02 (i.e., Significant 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

Poor diversification

The correlation between Putnam Global Industrials and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Industrials 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 Industrials. 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 bureau of economic analysis.

Moving together with Putnam Mutual Fund

  0.94PEYAX Putnam Equity IncomePairCorr
  0.85PFICX Putnam Floating RatePairCorr
  0.82PFJAX Putnam High YieldPairCorr
  0.85PFLRX Putnam Floating RatePairCorr
  0.83PFLLX Putnam Floating RatePairCorr
  0.84PFRYX Putnam Floating RatePairCorr
  0.84PFRZX Putnam Floating RatePairCorr
  0.9PGEYX George PutnamPairCorr
  0.9PGEJX George Putnam BalancedPairCorr
  0.9PGEOX George Putnam Potential GrowthPairCorr
  0.9PGELX George Putnam Balanced Potential GrowthPairCorr
  0.89PGEMX George Putnam Potential GrowthPairCorr
  1.0PGIAX Pnc Fds GrPairCorr
  1.0PGIEX Putnam Global IndustrialsPairCorr
  1.0PGIOX Putnam Global IndustrialsPairCorr
  0.98PGODX Putnam Growth OpportPairCorr
  0.98PGOEX Putnam Growth OpportPairCorr
  0.9PGPRX George Putnam Potential GrowthPairCorr
  0.98PGORX Putnam Growth OpportPairCorr
  0.98PGOYX Putnam Growth OpportPairCorr
  0.9PGPCX George Putnam Potential GrowthPairCorr

Moving against Putnam Mutual Fund

  0.71PGBRX Putnam Global IncomePairCorr
  0.39PGEBX George PutnamPairCorr
  0.36PXMAX Putnam Massachusetts TaxPairCorr
  0.32PEXTX Putnam Tax ExemptPairCorr
  0.32PXOHX Putnam Ohio TaxPairCorr
  0.79PGHAX Putnam Global HealthPairCorr
  0.71PGGYX Putnam Global IncmPairCorr
  0.71PGGIX Putnam Global IncomePairCorr
  0.69PGGDX Putnam Global IncomePairCorr
  0.68PGGLX Putnam Global IncmPairCorr
  0.65PGGEX Putnam Global IncomePairCorr
  0.47PGLRX Putnam Global EquityPairCorr
  0.46PGLEX Putnam Global EquityPairCorr
  0.77PGVCX Putnam U SPairCorr
  0.77PGVRX Putnam U SPairCorr
  0.76PGSIX Putnam U SPairCorr
  0.75PYTRX Putman Absolute ReturnPairCorr

Related Correlations Analysis

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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.