Putnam Global Correlations

Mutual Funds . USA . 
Fund . Putnam Global Equity
PGLRX Fund  USD 17.37  0.09  0.52%   
The current 90-days correlation between Putnam Global Equity and Gabelli Convertible And is -0.06 (i.e., 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 -0.05 (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

  0.95PEYAX Putnam Equity IncomePairCorr
  0.64PEXTX Putnam Tax ExemptPairCorr
  0.96PFICX Putnam Floating RatePairCorr
  0.98PFJAX Putnam High YieldPairCorr
  0.96PFLRX Putnam Floating RatePairCorr
  0.96PFLLX Putnam Floating RatePairCorr
  0.96PFRYX Putnam Floating RatePairCorr
  0.95PFRZX Putnam Floating RatePairCorr
  0.69PXMNX Putnam Minnesota TaxPairCorr
  0.78PGBRX Putnam Global IncomePairCorr
  0.97PGEYX George PutnamPairCorr
  0.98PGFMX Putnam Global FinancialsPairCorr
  0.97PGEJX George Putnam BalancedPairCorr
  0.97PGEOX George PutnamPairCorr
  0.97PGELX George Putnam BalancedPairCorr
  0.97PGEMX George PutnamPairCorr
  0.82PGGYX Putnam Global IncmPairCorr
  0.79PGGDX Putnam Global IncomePairCorr
  0.81PGGEX Putnam Global IncomePairCorr
  0.73PGGLX Putnam Global IncmPairCorr
  0.81PGGIX Putnam Global IncomePairCorr
  0.97PGIAX Pnc Fds GrPairCorr
  0.97PGIEX Putnam Global IndustrialsPairCorr
  0.97PGIOX Putnam Global IndustrialsPairCorr
  0.97PGILX Putnam Global IndustrialsPairCorr
  0.99PGLEX Putnam Global EquityPairCorr
  0.96PGODX Putnam Growth OpportPairCorr
  0.96PGOEX Putnam Growth OpportPairCorr
  0.97PGPRX George PutnamPairCorr
  0.96PGORX Putnam Growth OpportPairCorr
  0.96PGOYX Putnam Growth OpportPairCorr
  0.97PGPCX George PutnamPairCorr
  0.73PGSIX 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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