Putnam Global Correlations

PGTAX Fund

USD 64.26 0.16 0.25%

The current 90-days correlation between Putnam Global Technology and Blackrock Science Technology is 0.9 (i.e., Almost no 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

Very weak diversification

The correlation between Putnam Global Technology and DJI is 0.52 (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 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

0.78	VEEA	Veea Inc Symbol Change	Pair Corr
0.82	VISL	Vislink Technologies Earnings Call This Week	Pair Corr
0.62	DVLT	Datavault AI Symbol Change	Pair Corr
0.73	ZENA	ZenaTech	Pair Corr
0.64	VSTEW	Vast Renewables	Pair Corr
0.63	MAPS	WM Technology	Pair Corr
0.86	HPE-PC	Hewlett Packard Ente	Pair Corr
0.8	VEEAW	Veea Inc Symbol Change	Pair Corr
0.82	NOVA	Sunnova Energy Inter	Pair Corr
0.66	NXXT	NextNRG Symbol Change	Pair Corr
0.85	CORZZ	Core Scientific, Tranche Downward Rally	Pair Corr
0.75	SLNHP	Soluna Holdings Preferred	Pair Corr

Moving against Putnam Mutual Fund

0.63	EMKR	EMCORE	Pair Corr
0.55	LGTY	Logility Supply Chain Symbol Change	Pair Corr
0.52	INFN	Infinera	Pair Corr
0.46	HCP	Hashicorp	Pair Corr
0.75	NTCL	NETCLASS TECHNOLOGY INC	Pair Corr
0.72	MTTR	Matterport	Pair Corr
0.64	HPAIW	Helport AI Limited	Pair Corr
0.37	AMBR	Amber Road, Symbol Change	Pair Corr

Related Correlations Analysis

	BGSAX	CTCAX	POGAX	CPOAX	MGGPX
BGSAX		1.0	0.99	0.93	0.58	BGSAX
CTCAX	1.0		0.99	0.9	0.51	CTCAX
POGAX	0.99	0.99		0.92	0.55	POGAX
CPOAX	0.93	0.9	0.92		0.77	CPOAX
MGGPX	0.58	0.51	0.55	0.77		MGGPX
	BGSAX	CTCAX	POGAX	CPOAX	MGGPX

Click cells to compare fundamentals

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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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BGSAX	1.48	(0.15)	(0.11)	0.00	0.00	2.38	(3.68)	9.08
CTCAX	1.34	(0.15)	(0.12)	0.00	0.00	2.06	(3.44)	7.87
POGAX	1.18	(0.15)	(0.12)	0.00	0.00	2.22	(3.31)	6.58
CPOAX	1.79	(0.16)	(0.10)	0.00	0.00	3.50	(3.64)	10.09
MGGPX	1.03	0.00	0.00	1.48	(1.01)	1.82	(2.24)	5.54

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