Putnam Global Correlations

Mutual Funds USA . 
Fund . Putnam Global Industrials
PGILX Fund  USD 37.79  0.04  0.11%   
The current 90-days correlation between Putnam Global Industrials and T Rowe Price is 0.13 (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

Good diversification

The correlation between Putnam Global Industrials and DJI is -0.04 (i.e., Good 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 bureau of economic analysis.

Moving together with Putnam Mutual Fund

  0.84PEYAX Putnam Equity IncomePairCorr
  0.84PFICX Putnam Floating RatePairCorr
  0.86PFJAX Putnam High YieldPairCorr
  0.85PFLRX Putnam Floating RatePairCorr
  0.71PFLLX Putnam Floating RatePairCorr
  0.84PFRYX Putnam Floating RatePairCorr
  0.71PFRZX Putnam Floating RatePairCorr
  0.67PGBRX Putnam Global IncomePairCorr
  1.0PGEYX George PutnamPairCorr
  0.7PGFMX Putnam Global FinancialsPairCorr
  0.85PGEOX George PutnamPairCorr
  0.75PGELX George Putnam BalancedPairCorr
  1.0PGEMX George PutnamPairCorr
  0.77PGIAX Pnc Fds GrPairCorr
  0.75PGIEX Putnam Global IndustrialsPairCorr
  0.85PGIOX Putnam Global IndustrialsPairCorr
  0.85PGLRX Putnam Global EquityPairCorr
  0.85PGPRX George PutnamPairCorr
  0.77PGORX Putnam Growth OpportPairCorr
  0.77PGOYX Putnam Growth OpportPairCorr
  0.73PGTAX Putnam Global TechnologyPairCorr
  0.75PGWTX Putnam Focused EquityPairCorr
  0.67PYSVX Putnam Small CapPairCorr
  0.74PYSTX Putnam Short TermPairCorr
  0.66PYTRX Putman Absolute ReturnPairCorr
  0.81PGP Pimco Global StocksplusPairCorr
  0.74PHPDX Putnam RetirementPairCorr

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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