Putnam Global Correlations

PGGDX Fund

USD 10.05 0.02 0.20%

The current 90-days correlation between Putnam Global Income and Rbb Fund is 0.08 (i.e., Significant 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

Good diversification

The correlation between Putnam Global Income and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Income 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 Income. 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

0.84	FGBRX	Templeton Global Bond	Pair Corr
0.86	FBNRX	Templeton Global Bond	Pair Corr
0.89	FCWBX	Capital World Bond	Pair Corr
0.88	RCWBX	Capital World Bond	Pair Corr
0.89	CCWFX	Capital World Bond	Pair Corr
0.89	CCWCX	Capital World Bond	Pair Corr
0.89	RCWEX	Capital World Bond	Pair Corr
0.89	CCWEX	Capital World Bond	Pair Corr
0.89	RCWCX	Capital World Bond	Pair Corr
0.9	RCWGX	Capital World Bond	Pair Corr
0.84	GABFX	Gmo Asset Allocation	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.65	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.65	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against Putnam Mutual Fund

0.56	GMCQX	Gmo Equity Allocation	Pair Corr
0.55	GCAVX	Gmo Small Cap	Pair Corr
0.81	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.71	BAC	Bank of America Aggressive Push	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.56	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.46	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.45	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.45	WMT	Walmart Aggressive Push	Pair Corr
0.41	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Related Correlations Analysis

	OPTCX	LANIX	IPSAX	ARCHX	ADGAX	SMPIX	DTICX
OPTCX		0.94	0.93	0.66	0.93	0.75	0.03	OPTCX
LANIX	0.94		0.95	0.78	0.92	0.86	-0.06	LANIX
IPSAX	0.93	0.95		0.71	0.99	0.85	-0.07	IPSAX
ARCHX	0.66	0.78	0.71		0.62	0.62	0.27	ARCHX
ADGAX	0.93	0.92	0.99	0.62		0.83	-0.1	ADGAX
SMPIX	0.75	0.86	0.85	0.62	0.83		-0.39	SMPIX
DTICX	0.03	-0.06	-0.07	0.27	-0.1	-0.39		DTICX
	OPTCX	LANIX	IPSAX	ARCHX	ADGAX	SMPIX	DTICX

Click cells to compare fundamentals

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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

ADGAX	+ 0.99	IPSAX
IPSAX	+ 0.95	LANIX
LANIX	+ 0.94	OPTCX
IPSAX	+ 0.93	OPTCX
ADGAX	+ 0.93	OPTCX
ADGAX	+ 0.92	LANIX

High negative correlations

DTICX	- 0.39	SMPIX
DTICX	- 0.1	ADGAX
DTICX	- 0.07	IPSAX
DTICX	- 0.06	LANIX

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
OPTCX	0.16	0.04	(0.32)	1.34	0.00	(0.24)	0.41	(0.21)	1.07
LANIX	0.52	0.06	(0.06)	(4.41)	0.57	(0.55)	1.22	(0.87)	3.14
IPSAX	0.40	(0.01)	(0.10)	0.08	0.44	(0.45)	0.75	(0.74)	2.42
ARCHX	0.34	0.02	(0.19)	4.28	0.38	(0.39)	0.67	(0.71)	1.69
ADGAX	0.57	(0.02)	(0.03)	0.08	0.73	(0.59)	1.11	(1.59)	4.36
SMPIX	2.78	0.14	0.00	(0.56)	4.06	(2.47)	5.38	(6.39)	18.07
DTICX	0.08	0.00	(0.65)	(0.86)	0.05	(0.14)	0.13	(0.13)	0.64

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