Putnam Global Correlations

Mutual Funds . USA . 
Fund . Putnam Global Industrials
PGIOX Fund  USD 36.54  0.14  0.38%   
The current 90-days correlation between Putnam Global Industrials and Gabelli Gold Fund is 0.1 (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

Significant diversification

The correlation between Putnam Global Industrials and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Industrials 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 Industrials. 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 persons.

Moving together with Putnam Mutual Fund

  0.86VTSAX Vanguard Total StockPairCorr
  0.84VFIAX Vanguard 500 IndexPairCorr
  0.86VTSMX Vanguard Total StockPairCorr
  0.83VITSX Vanguard Total StockPairCorr
  0.86VSMPX Vanguard Total StockPairCorr
  0.86VSTSX Vanguard Total StockPairCorr
  0.84VFINX Vanguard 500 IndexPairCorr
  0.87VFFSX Vanguard 500 IndexPairCorr
  0.87VINIX Vanguard InstitutionalPairCorr
  0.87VIIIX Vanguard InstitutionalPairCorr
  0.78WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.78KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.78KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.77KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  0.85SMPSX Semiconductor UltrasectorPairCorr
  0.71LETRX Voya Russia FundPairCorr
  0.78LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.78KNPYX Kinetics Paradigm Steady GrowthPairCorr
  0.77KMKAX Kinetics Market Oppo Steady GrowthPairCorr
  0.79LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.67BAC Bank of America Aggressive PushPairCorr
  0.78HPQ HP IncPairCorr
  0.76CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.82INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.86AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.65DIS Walt Disney Aggressive PushPairCorr
  0.79CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.86CSCO Cisco SystemsPairCorr

Moving against Putnam Mutual Fund

  0.71JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.57PG Procter GamblePairCorr
  0.46PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

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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.

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