Putnam Global Correlations

PGTAX Fund

USD 67.36 1.13 1.71%

The current 90-days correlation between Putnam Global Technology and Blackrock Science Technology is 0.81 (i.e., Very poor 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

Modest diversification

The correlation between Putnam Global Technology and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Technology 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 Technology. 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

0.79	DBD	Diebold Nixdorf,	Pair Corr
0.66	NOVA	Sunnova Energy Inter	Pair Corr

Moving against Putnam Mutual Fund

0.49	WCT	Wellchange Holdings Tech Boost	Pair Corr
0.46	HPAIW	Helport AI Limited	Pair Corr
0.45	LGTY	Logility Supply Chain Symbol Change	Pair Corr
0.73	MIND	Mind Technology	Pair Corr
0.57	SCWX	Secureworks Corp	Pair Corr
0.45	PFICX	Putnam Floating Rate	Pair Corr
0.36	BNAIW	Brand Engagement Network Symbol Change	Pair Corr
0.55	PFRZX	Putnam Floating Rate	Pair Corr
0.54	PFLRX	Putnam Floating Rate	Pair Corr

Related Correlations Analysis

	BGSAX	CTCAX	POGAX	CPOAX	MGGPX
BGSAX		0.88	0.85	0.67	0.54	BGSAX
CTCAX	0.88		0.89	0.66	0.37	CTCAX
POGAX	0.85	0.89		0.68	0.41	POGAX
CPOAX	0.67	0.66	0.68		0.56	CPOAX
MGGPX	0.54	0.37	0.41	0.56		MGGPX
	BGSAX	CTCAX	POGAX	CPOAX	MGGPX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BGSAX	1.39	(0.10)	(0.14)	2.34	(3.58)	9.08
CTCAX	1.18	(0.05)	(0.09)	1.96	(2.75)	7.87
POGAX	1.09	(0.07)	(0.12)	1.85	(2.66)	6.00
CPOAX	1.52	(0.03)	(0.07)	3.00	(2.82)	9.55
MGGPX	0.95	(0.13)	(0.30)	1.62	(2.20)	9.58

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