Putnam International Correlations

PNVAX Fund

USD 41.89 0.21 0.50%

The current 90-days correlation between Putnam International and Pace High Yield is 0.43 (i.e., Very weak diversification). The correlation of Putnam International 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 International Correlation With Market

Good diversification

The correlation between Putnam International Capital and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam International Capital 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 International Capital. 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

0.86	PGBRX	Putnam Global Income	Pair Corr
0.87	PGGYX	Putnam Global Incm	Pair Corr
0.64	PGHAX	Putnam Global Health	Pair Corr
0.87	PGGDX	Putnam Global Income	Pair Corr
0.88	PGGEX	Putnam Global Income	Pair Corr
0.86	PGGLX	Putnam Global Incm	Pair Corr
0.87	PGGIX	Putnam Global Income	Pair Corr
0.97	PGLEX	Putnam Global Equity	Pair Corr
0.97	PGLRX	Putnam Global Equity	Pair Corr

Moving against Putnam Mutual Fund

0.43	PGEYX	George Putnam	Pair Corr
0.43	PGEJX	George Putnam Balanced	Pair Corr
0.67	PGODX	Putnam Growth Opport	Pair Corr
0.5	PGIEX	Putnam Global Industrials	Pair Corr
0.49	PGIAX	Pnc Fds Gr	Pair Corr
0.49	PGIOX	Putnam Global Industrials	Pair Corr
0.48	PGILX	Putnam Global Industrials	Pair Corr
0.46	PGEMX	George Putnam	Pair Corr
0.44	PGEOX	George Putnam	Pair Corr
0.44	PGELX	George Putnam Balanced	Pair Corr
0.71	PGTRX	Putnam Global Technology	Pair Corr
0.71	PGTDX	Putnam Global Technology	Pair Corr
0.71	PGTAX	Putnam Global Technology	Pair Corr
0.7	PGTYX	Putnam Global Technology	Pair Corr
0.67	PGOEX	Putnam Growth Opport	Pair Corr
0.67	PGORX	Putnam Growth Opport	Pair Corr

Related Correlations Analysis

	PHDTX	TIYRX	OHSHX	RHYKX	CYBAX
PHDTX		0.87	0.92	0.84	0.94	PHDTX
TIYRX	0.87		0.95	0.79	0.96	TIYRX
OHSHX	0.92	0.95		0.79	0.94	OHSHX
RHYKX	0.84	0.79	0.79		0.83	RHYKX
CYBAX	0.94	0.96	0.94	0.83		CYBAX
	PHDTX	TIYRX	OHSHX	RHYKX	CYBAX

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 International 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 International'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
PHDTX	0.12	0.02	0.23	(1.24)	0.00	(0.16)	0.23	(0.22)	0.79
TIYRX	0.15	0.01	0.15	(0.30)	0.07	(0.21)	0.45	(0.34)	1.03
OHSHX	0.13	0.01	0.16	(0.49)	0.03	(0.18)	0.23	(0.22)	1.02
RHYKX	0.15	0.03	0.23	0.27	0.00	(0.26)	0.37	(0.18)	0.92
CYBAX	0.13	0.01	0.23	(0.28)	0.00	(0.16)	0.44	(0.24)	0.90

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