Putnam Global Correlations

Mutual Funds . USA . 
Fund . Putnam Global Industrials
PGIOX Fund  USD 31.77  0.40  1.24%   
The current 90-days correlation between Putnam Global Industrials and Gamco Natural Resources is 0.42 (i.e., Very 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

Good diversification

The correlation between Putnam Global Industrials and DJI is -0.15 (i.e., Good 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 persons.

Moving together with Putnam Mutual Fund

  0.99PGEYX George PutnamPairCorr
  0.99PGEJX George Putnam BalancedPairCorr
  0.86PGEOX George PutnamPairCorr
  0.99PGELX George Putnam BalancedPairCorr
  0.86PGEMX George PutnamPairCorr
  1.0PGIAX Pnc Fds GrPairCorr
  0.87PGIEX Putnam Global IndustrialsPairCorr
  1.0PGILX Putnam Global IndustrialsPairCorr
  0.83PGODX Putnam Growth OpportPairCorr
  0.96PGOEX Putnam Growth OpportPairCorr
  0.99PGPRX George PutnamPairCorr
  0.96PGORX Putnam Growth OpportPairCorr
  0.96PGOYX Putnam Growth OpportPairCorr
  0.99PGPCX George PutnamPairCorr

Moving against Putnam Mutual Fund

  0.44PGBRX Putnam Global IncomePairCorr
  0.42PGGLX Putnam Global IncmPairCorr
  0.41PGGYX Putnam Global IncmPairCorr
  0.4PGGDX Putnam Global IncomePairCorr
  0.4PGGEX Putnam Global IncomePairCorr
  0.4PGGIX Putnam Global IncomePairCorr
  0.38PGLEX Putnam Global Equity Potential GrowthPairCorr
  0.38PGLRX Putnam Global EquityPairCorr
  0.41PGSIX Putnam U SPairCorr
  0.39PYSTX Putnam Short TermPairCorr
  0.33PGVCX Putnam U SPairCorr
  0.33PGVRX Putnam U SPairCorr

Related Correlations Analysis

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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   
VENAX
+ 0.92
GLEAX
SEPIX
+ 0.92
VENAX
SEPIX
+ 0.88
GLEAX
TREIX
+ 0.85
XGNTX
FRNRX
+ 0.82
SEPIX
FRNRX
+ 0.8
VENAX
  
High negative correlations   
VENAX
- 0.0
TREIX

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.

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