Putnam Global Correlations

PGTDX Fund

USD 63.68 0.70 1.11%

The current 90-days correlation between Putnam Global Technology and Veea Inc is -0.1 (i.e., Good 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 0.54 (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 unemployment.

Moving together with Putnam Mutual Fund

0.67

CETXP

Cemtrex Pref

Pair Corr

Moving against Putnam Mutual Fund

0.68	FOXX	Foxx Development Holdings	Pair Corr
0.67	VEEA	Veea Inc Symbol Change	Pair Corr
0.67	EVOL	Evolving Systems	Pair Corr
0.63	DLPX	Delphax Technologies	Pair Corr
0.62	VHAI	VHAI	Pair Corr
0.41	SBIGW	SpringBig Holdings	Pair Corr
0.37	VIDE	Video Display	Pair Corr
0.66	GETR	Getaround	Pair Corr
0.6	ZPTAW	Zapata Computing Holdings	Pair Corr
0.51	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.46	MARK	Remark Holdings	Pair Corr
0.45	VLD	Velo3D Inc	Pair Corr
0.36	ISGN	iSign Solutions	Pair Corr

Related Correlations Analysis

	VEEA	VVPR	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRBX	PFRYX
VEEA		0.24	-0.2	0.27	-0.82	-0.28	-0.83	-0.79	0.0	-0.83	VEEA
VVPR	0.24		-0.34	0.37	0.14	0.47	0.13	0.17	0.0	0.11	VVPR
PEYAX	-0.2	-0.34		0.14	-0.03	-0.08	0.01	-0.02	0.0	0.01	PEYAX
PEXTX	0.27	0.37	0.14		-0.16	0.52	-0.14	-0.16	0.0	-0.15	PEXTX
PFICX	-0.82	0.14	-0.03	-0.16		0.53	0.98	0.99	0.0	0.97	PFICX
PFJAX	-0.28	0.47	-0.08	0.52	0.53		0.55	0.56	0.0	0.54	PFJAX
PFLRX	-0.83	0.13	0.01	-0.14	0.98	0.55		0.98	0.0	1.0	PFLRX
PFLLX	-0.79	0.17	-0.02	-0.16	0.99	0.56	0.98		0.0	0.98	PFLLX
PFRBX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PFRBX
PFRYX	-0.83	0.11	0.01	-0.15	0.97	0.54	1.0	0.98	0.0		PFRYX
	VEEA	VVPR	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRBX	PFRYX

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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

PFRYX	+ 1.0	PFLRX
PFLLX	+ 0.99	PFICX
PFLRX	+ 0.98	PFICX
PFLLX	+ 0.98	PFLRX
PFRYX	+ 0.98	PFLLX
PFRYX	+ 0.97	PFICX

High negative correlations

PFRYX	- 0.83	VEEA
PFLRX	- 0.83	VEEA
PFICX	- 0.82	VEEA
PFLLX	- 0.79	VEEA
PEYAX	- 0.34	VVPR
PFJAX	- 0.28	VEEA

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
VEEA	5.98	(1.28)	0.00	0.87	0.00	0.00	9.54	(10.75)	31.60
VVPR	6.40	0.71	0.07	(1.43)	9.01	(7.99)	16.30	(15.56)	112.34
PEYAX	0.55	(0.14)	0.00	(0.15)	0.00	0.00	0.94	(0.81)	8.00
PEXTX	0.21	(0.04)	0.00	0.63	0.00	0.00	0.38	(0.50)	1.66
PFICX	0.06	0.01	(0.07)	3.25	0.00	(0.22)	0.13	(0.13)	0.76
PFJAX	0.09	(0.01)	0.00	(1.87)	0.00	0.00	0.19	(0.19)	0.74
PFLRX	0.06	0.01	0.00	0.88	0.00	0.00	0.13	(0.12)	0.76
PFLLX	0.05	0.01	0.00	2.70	0.00	0.00	0.13	(0.12)	0.63
PFRBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFRYX	0.06	0.01	0.00	0.56	0.00	0.00	0.13	(0.12)	0.89

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