Putnam Global Correlations

PGLRX Fund

USD 15.51 0.02 0.13%

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 weak diversification

The correlation between Putnam Global Equity and DJI is 0.55 (i.e., Very 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 metropolitan statistical area.

Moving together with Putnam Mutual Fund

0.84	PGBRX	Putnam Global Income	Pair Corr
0.88	PGGYX	Putnam Global Incm	Pair Corr
0.72	PGHAX	Putnam Global Health	Pair Corr
0.88	PGGDX	Putnam Global Income	Pair Corr
0.88	PGGEX	Putnam Global Income	Pair Corr
0.83	PGGLX	Putnam Global Incm	Pair Corr
0.92	PGGIX	Putnam Global Income	Pair Corr
0.92	PGLEX	Putnam Global Equity	Pair Corr

Moving against Putnam Mutual Fund

0.38	PGEJX	George Putnam Balanced	Pair Corr
0.33	PGEYX	George Putnam	Pair Corr
0.57	PGODX	Putnam Growth Opport	Pair Corr
0.43	PGIOX	Putnam Global Industrials	Pair Corr
0.42	PGIAX	Pnc Fds Gr	Pair Corr
0.42	PGILX	Putnam Global Industrials	Pair Corr
0.4	PGEMX	George Putnam	Pair Corr
0.39	PGIEX	Putnam Global Industrials	Pair Corr
0.38	PGEOX	George Putnam	Pair Corr
0.38	PGELX	George Putnam Balanced	Pair Corr
0.6	PGTRX	Putnam Global Technology	Pair Corr
0.6	PGTYX	Putnam Global Technology	Pair Corr
0.6	PGTAX	Putnam Global Technology	Pair Corr
0.59	PGOEX	Putnam Growth Opport	Pair Corr
0.59	PGOYX	Putnam Growth Opport	Pair Corr
0.59	PGTDX	Putnam Global Technology	Pair Corr

Related Correlations Analysis

	FFCDAX	VIPIX	JTSQX	SGICX	OPTCX	FMUUX	WABMSX
FFCDAX		0.29	0.48	0.05	0.12	0.23	0.5	FFCDAX
VIPIX	0.29		0.19	-0.13	0.75	0.93	0.25	VIPIX
JTSQX	0.48	0.19		0.33	0.16	0.13	0.96	JTSQX
SGICX	0.05	-0.13	0.33		-0.07	-0.22	0.2	SGICX
OPTCX	0.12	0.75	0.16	-0.07		0.78	0.16	OPTCX
FMUUX	0.23	0.93	0.13	-0.22	0.78		0.21	FMUUX
WABMSX	0.5	0.25	0.96	0.2	0.16	0.21		WABMSX
	FFCDAX	VIPIX	JTSQX	SGICX	OPTCX	FMUUX	WABMSX

Click cells to compare fundamentals

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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

WABMSX	+ 0.96	JTSQX
FMUUX	+ 0.93	VIPIX
FMUUX	+ 0.78	OPTCX
OPTCX	+ 0.75	VIPIX
WABMSX	+ 0.5	FFCDAX
JTSQX	+ 0.48	FFCDAX

High negative correlations

FMUUX	- 0.22	SGICX
SGICX	- 0.13	VIPIX
OPTCX	- 0.07	SGICX

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
FFCDAX	0.12	(0.01)	0.00	0.93	0.00	0.00	0.21	(0.41)	1.14
VIPIX	0.22	0.02	0.20	0.61	0.18	(0.27)	0.53	(0.44)	1.30
JTSQX	0.66	0.00	0.00	(0.04)	0.00	0.00	1.22	(1.34)	3.69
SGICX	0.92	(0.32)	0.00	(1.88)	0.00	0.00	1.09	(1.37)	19.11
OPTCX	0.07	0.00	0.12	0.59	0.06	(0.17)	0.21	(0.21)	0.93
FMUUX	0.03	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.40
WABMSX	0.61	0.03	0.06	0.02	0.79	(0.62)	1.38	(1.29)	3.66

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