Putnam Global Correlations

PTTEX Fund

USD 76.44 1.57 2.10%

The current 90-days correlation between Putnam Global Technology and Fuhkbx is 0.15 (i.e., Average 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

Average diversification

The correlation between Putnam Global Technology and DJI is 0.14 (i.e., Average 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 income.

Moving together with Putnam Mutual Fund

0.71	FSPTX	Technology Portfolio	Pair Corr
0.85	FSCSX	Software And It	Pair Corr
0.7	SLMCX	Columbia Seligman	Pair Corr
0.64	SCICX	Columbia Seligman	Pair Corr
0.65	RYVLX	Nasdaq 100 2x Steady Growth	Pair Corr
0.63	RYVYX	Nasdaq 100 2x Steady Growth	Pair Corr
0.77	RYCCX	Nasdaq 100 2x Steady Growth	Pair Corr
0.85	BIPIX	Biotechnology Ultrasector Steady Growth	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.65	CAT	Caterpillar Sell-off Trend	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.62	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against Putnam Mutual Fund

0.51

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Pair Corr

Related Correlations Analysis

	FUHKBX	MSSGX	FWNHTX	LMUSX	FBANJX	ACWDX	FTUFOX	FZDAQX
FUHKBX		-0.31	0.33	0.44	0.46	0.41	-0.01	0.09	FUHKBX
MSSGX	-0.31		-0.06	0.34	-0.26	0.38	-0.01	-0.1	MSSGX
FWNHTX	0.33	-0.06		0.17	0.11	0.17	0.28	0.31	FWNHTX
LMUSX	0.44	0.34	0.17		0.42	0.85	0.2	0.28	LMUSX
FBANJX	0.46	-0.26	0.11	0.42		0.33	0.45	0.68	FBANJX
ACWDX	0.41	0.38	0.17	0.85	0.33		0.12	0.17	ACWDX
FTUFOX	-0.01	-0.01	0.28	0.2	0.45	0.12		0.89	FTUFOX
FZDAQX	0.09	-0.1	0.31	0.28	0.68	0.17	0.89		FZDAQX
	FUHKBX	MSSGX	FWNHTX	LMUSX	FBANJX	ACWDX	FTUFOX	FZDAQX

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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

FZDAQX	+ 0.89	FTUFOX
ACWDX	+ 0.85	LMUSX
FZDAQX	+ 0.68	FBANJX
FBANJX	+ 0.46	FUHKBX
FTUFOX	+ 0.45	FBANJX
LMUSX	+ 0.44	FUHKBX

High negative correlations

MSSGX	- 0.31	FUHKBX
FBANJX	- 0.26	MSSGX
FZDAQX	- 0.1	MSSGX
FWNHTX	- 0.06	MSSGX
FTUFOX	- 0.01	MSSGX
FTUFOX	- 0.01	FUHKBX

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
FUHKBX	0.50	0.16	0.27	1.32	0.16	(0.64)	1.13	(0.72)	1.64
MSSGX	1.61	0.42	0.22	0.80	1.51	(2.03)	3.81	(2.32)	11.74
FWNHTX	0.02	(0.01)	(0.93)	(6.68)	0.00	(0.02)	0.07	(0.05)	0.12
LMUSX	0.74	0.05	0.03	0.11	1.21	(0.70)	1.27	(1.50)	6.30
FBANJX	0.55	0.05	0.00	2.20	0.00	0.00	1.38	(1.99)	2.83
ACWDX	0.79	0.05	0.03	0.11	1.02	(0.83)	1.63	(1.38)	8.59
FTUFOX	0.10	0.00	(0.21)	(0.20)	0.11	(0.13)	0.40	(0.35)	0.57
FZDAQX	0.15	0.00	0.00	(0.08)	0.00	0.00	0.52	(0.72)	0.82

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