Putnam Global Correlations

Mutual Funds . USA . 
Fund . Putnam Global Industrials
PGIOX Fund  USD 35.57  0.04  0.11%   
The current 90-days correlation between Putnam Global Industrials and Columbia Global Technology is 0.01 (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

Very poor diversification

The correlation between Putnam Global Industrials and DJI is 0.89 (i.e., Very poor 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

  0.98PEYAX Putnam Equity IncomePairCorr
  0.63PEXTX Putnam Tax ExemptPairCorr
  0.98PFICX Putnam Floating RatePairCorr
  0.98PFJAX Putnam High YieldPairCorr
  0.98PFLRX Putnam Floating RatePairCorr
  0.98PFLLX Putnam Floating RatePairCorr
  0.98PFRYX Putnam Floating RatePairCorr
  0.98PFRZX Putnam Floating RatePairCorr
  0.69PXMNX Putnam Minnesota TaxPairCorr
  0.7PGBRX Putnam Global IncomePairCorr
  1.0PGEYX George PutnamPairCorr
  0.98PGFMX Putnam Global FinancialsPairCorr
  1.0PGEJX George Putnam BalancedPairCorr
  0.99PGEOX George PutnamPairCorr
  0.99PGELX George Putnam BalancedPairCorr
  1.0PGEMX George PutnamPairCorr
  0.75PGGYX Putnam Global IncmPairCorr
  0.72PGGDX Putnam Global IncomePairCorr
  0.72PGGEX Putnam Global IncomePairCorr
  0.66PGGLX Putnam Global IncmPairCorr
  0.75PGGIX Putnam Global IncomePairCorr
  0.99PGIAX Pnc Fds GrPairCorr
  0.99PGIEX Putnam Global IndustrialsPairCorr
  1.0PGILX Putnam Global IndustrialsPairCorr
  0.97PGLEX Putnam Global EquityPairCorr
  0.97PGLRX Putnam Global EquityPairCorr
  1.0PGODX Putnam Growth OpportPairCorr
  0.98PGOEX Putnam Growth OpportPairCorr
  0.99PGPRX George PutnamPairCorr
  0.98PGORX Putnam Growth OpportPairCorr
  1.0PGOYX Putnam Growth OpportPairCorr
  0.99PGPCX George PutnamPairCorr
  0.72PGSIX Putnam U SPairCorr

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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