Putnam Global Correlations

PGLRX Fund

USD 14.80 0.03 0.20%

The current 90-days correlation between Putnam Global Equity and Pia High Yield is -0.21 (i.e., Very good 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 Equity and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Global Equity 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 Equity. 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 metropolitan statistical area.

Moving together with Putnam Mutual Fund

0.78	VGTSX	Vanguard Total Inter	Pair Corr
0.78	VTIAX	Vanguard Total Inter	Pair Corr
0.78	VTSNX	Vanguard Total Inter	Pair Corr
0.78	VTPSX	Vanguard Total Inter	Pair Corr
0.78	VTISX	Vanguard Total Inter	Pair Corr
0.85	VTMGX	Vanguard Developed	Pair Corr
0.87	VDVIX	Vanguard Developed	Pair Corr
0.85	VTMNX	Vanguard Developed	Pair Corr
0.87	VDIPX	Vanguard Developed	Pair Corr
0.85	FSPSX	Fidelity International	Pair Corr
0.67	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.71	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.62	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.82	KO	Coca Cola Aggressive Push	Pair Corr
0.72	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against Putnam Mutual Fund

0.55	FTCAX	Templeton Strained Bond	Pair Corr
0.5	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.43	PYARX	Payden Absolute Return	Pair Corr
0.42	PYAIX	Payden Absolute Return	Pair Corr
0.31	BCAAX	Brandywineglobal C	Pair Corr
0.76	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.71	BAC	Bank of America Aggressive Push	Pair Corr
0.6	DIS	Walt Disney Aggressive Push	Pair Corr
0.53	CSCO	Cisco Systems	Pair Corr
0.4	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.37	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.33	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	PHYSX	SGYAX	SIHSX	PHDTX	JHYZX	PHYZX	PGHCX	ACHFX
PHYSX		0.93	0.82	0.96	0.94	0.87	0.92	0.88	PHYSX
SGYAX	0.93		0.87	0.94	0.93	0.93	0.93	0.9	SGYAX
SIHSX	0.82	0.87		0.89	0.93	0.97	0.93	0.95	SIHSX
PHDTX	0.96	0.94	0.89		0.97	0.94	0.95	0.93	PHDTX
JHYZX	0.94	0.93	0.93	0.97		0.96	0.96	0.94	JHYZX
PHYZX	0.87	0.93	0.97	0.94	0.96		0.96	0.96	PHYZX
PGHCX	0.92	0.93	0.93	0.95	0.96	0.96		0.99	PGHCX
ACHFX	0.88	0.9	0.95	0.93	0.94	0.96	0.99		ACHFX
	PHYSX	SGYAX	SIHSX	PHDTX	JHYZX	PHYZX	PGHCX	ACHFX

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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	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PHYSX	0.11	0.02	(0.44)	0.35	(0.17)	0.22	(0.22)	0.78
SGYAX	0.14	0.03	(0.37)	0.44	(0.25)	0.29	(0.14)	1.28
SIHSX	0.11	0.01	(0.67)	0.37	(0.17)	0.30	(0.20)	0.70
PHDTX	0.10	0.01	(0.43)	0.31	(0.16)	0.23	(0.22)	0.56
JHYZX	0.11	0.02	(0.45)	0.53	(0.21)	0.31	(0.15)	0.47
PHYZX	0.12	0.02	(0.36)	0.98	(0.29)	0.42	(0.21)	0.63
PGHCX	0.13	0.03	(0.25)	(1.04)	(0.34)	0.53	(0.26)	0.80
ACHFX	0.13	0.03	(0.42)	(0.99)	(0.20)	0.35	(0.23)	0.93

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