Putnam Global Correlations

PGTRX Fund

USD 65.08 0.44 0.68%

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 0.24 (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 metropolitan statistical area.

Moving together with Putnam Mutual Fund

0.69	DBD	Diebold Nixdorf,	Pair Corr
0.68	PEXTX	Putnam Tax Exempt	Pair Corr

Moving against Putnam Mutual Fund

0.45	HPAIW	Helport AI Limited	Pair Corr
0.39	WCT	Wellchange Holdings Tech Boost	Pair Corr
0.58	SCWX	Secureworks Corp	Pair Corr
0.48	PFICX	Putnam Floating Rate	Pair Corr
0.47	ZEOWW	Zeo Energy Corp Symbol Change	Pair Corr
0.46	MIND	Mind Technology	Pair Corr
0.4	RZLVW	Rezolve AI Limited	Pair Corr
0.63	PFRYX	Putnam Floating Rate	Pair Corr
0.58	PFRZX	Putnam Floating Rate	Pair Corr

Related Correlations Analysis

	MDBSX	BDVFX	FZABX	LIGFX	QDARX	FARIX	JDJRX
MDBSX		0.78	0.78	0.75	0.16	0.59	0.14	MDBSX
BDVFX	0.78		0.81	0.64	-0.33	0.77	-0.32	BDVFX
FZABX	0.78	0.81		0.9	0.07	0.84	0.06	FZABX
LIGFX	0.75	0.64	0.9		0.36	0.71	0.35	LIGFX
QDARX	0.16	-0.33	0.07	0.36		-0.19	0.87	QDARX
FARIX	0.59	0.77	0.84	0.71	-0.19		-0.18	FARIX
JDJRX	0.14	-0.32	0.06	0.35	0.87	-0.18		JDJRX
	MDBSX	BDVFX	FZABX	LIGFX	QDARX	FARIX	JDJRX

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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

LIGFX	+ 0.9	FZABX
JDJRX	+ 0.87	QDARX
FARIX	+ 0.84	FZABX
FZABX	+ 0.81	BDVFX
BDVFX	+ 0.78	MDBSX
FZABX	+ 0.78	MDBSX

High negative correlations

QDARX	- 0.33	BDVFX
JDJRX	- 0.32	BDVFX
FARIX	- 0.19	QDARX
JDJRX	- 0.18	FARIX

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
MDBSX	0.23	0.03	0.12	(0.43)	0.11	(0.32)	0.75	(0.38)	1.38
BDVFX	0.26	0.00	0.01	(0.02)	0.33	(0.31)	0.54	(0.54)	1.91
FZABX	0.67	0.01	0.01	0.02	1.18	(0.60)	1.21	(1.19)	5.64
LIGFX	0.28	0.02	0.06	0.08	0.36	(0.29)	0.55	(0.43)	1.91
QDARX	0.08	0.02	0.18	(18.13)	0.00	(0.13)	0.25	(0.16)	0.49
FARIX	0.31	(0.02)	0.00	(0.33)	0.00	0.00	0.54	(0.62)	1.81
JDJRX	0.36	0.06	0.17	1.41	0.24	(0.46)	0.88	(0.64)	2.40

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