Putnam Global Correlations

PGHAX Fund

USD 68.61 0.77 1.14%

The current 90-days correlation between Putnam Global Health and Vanguard Health Care is 0.17 (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 Health and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Health 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 Health. 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

0.81	PUSYX	Putnam U S	Pair Corr
0.98	VGHAX	Vanguard Health Care	Pair Corr
1.0	VGHCX	Vanguard Health Care	Pair Corr
0.92	PRHSX	T Rowe Price	Pair Corr
0.92	THISX	T Rowe Price	Pair Corr
0.95	VHCIX	Vanguard Health Care	Pair Corr
0.74	SHISX	Blackrock Health Sciences	Pair Corr
0.8	SHSCX	Blackrock Health Sciences	Pair Corr
0.8	SHSAX	Blackrock Health Sciences	Pair Corr
0.74	SHSSX	Blackrock Health Sciences	Pair Corr
0.63	BRUFX	Bruce Fund Bruce	Pair Corr

Moving against Putnam Mutual Fund

0.89	PFLLX	Putnam Floating Rate	Pair Corr
0.85	PRCCX	Putnam Convertible Incm	Pair Corr
0.82	PSDRX	Putnam Short Duration	Pair Corr
0.8	PSDQX	Putnam Short Duration	Pair Corr
0.8	PSDTX	Putnam Short Duration	Pair Corr
0.8	PSDYX	Putnam Short Duration	Pair Corr
0.79	PSDNX	Putnam Ultra Short	Pair Corr
0.78	PMYYX	Putnam Multicap Core	Pair Corr
0.73	PEYAX	Putnam Equity Income	Pair Corr
0.72	PEQCX	Putnam Equity Income	Pair Corr
0.71	PHAYX	Putnam High Yield	Pair Corr
0.69	PGEMX	George Putnam	Pair Corr
0.65	PNOTX	Putnam Sustainable Future	Pair Corr
0.65	PNSCX	Putnam Small Cap	Pair Corr
0.64	PACSX	Putnam Retirement	Pair Corr
0.63	PNSAX	Putnam Small Cap	Pair Corr
0.6	PNORX	Putnam Multi Cap	Pair Corr
0.59	PNOYX	Putnam Multi Cap	Pair Corr
0.5	PCTBX	Putnam California Tax	Pair Corr
0.9	WMT	Walmart Aggressive Push	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.81	T	ATT Inc Aggressive Push	Pair Corr
0.81	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.8	VTSMX	Vanguard Total Stock	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	SPGSX	State Street Premier	Pair Corr
0.67	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	VGHAX	VGHCX	PRHSX	THISX	VHCIX	SHISX	SHSAX	FSPHX
VGHAX		0.98	0.95	0.95	0.97	0.75	0.82	0.51	VGHAX
VGHCX	0.98		0.92	0.92	0.95	0.74	0.8	0.49	VGHCX
PRHSX	0.95	0.92		1.0	0.98	0.79	0.83	0.7	PRHSX
THISX	0.95	0.92	1.0		0.98	0.79	0.83	0.7	THISX
VHCIX	0.97	0.95	0.98	0.98		0.83	0.87	0.68	VHCIX
SHISX	0.75	0.74	0.79	0.79	0.83		0.88	0.82	SHISX
SHSAX	0.82	0.8	0.83	0.83	0.87	0.88		0.68	SHSAX
FSPHX	0.51	0.49	0.7	0.7	0.68	0.82	0.68		FSPHX
	VGHAX	VGHCX	PRHSX	THISX	VHCIX	SHISX	SHSAX	FSPHX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VGHAX	0.56	(0.26)	(0.37)	0.75	(1.29)	3.84
VGHCX	0.57	(0.21)	(1.96)	0.75	(1.29)	3.84
PRHSX	0.69	(0.20)	(0.17)	1.02	(1.25)	4.81
THISX	0.69	(0.20)	(0.17)	1.02	(1.25)	4.81
VHCIX	0.55	(0.16)	(0.17)	0.86	(1.26)	3.08
SHISX	0.57	(0.17)	(0.20)	0.90	(1.31)	3.38
SHSAX	0.57	(0.10)	3.73	0.91	(1.29)	3.38
FSPHX	0.68	(0.12)	(0.07)	1.04	(1.50)	3.90

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