Putnam Growth Correlations

Mutual Funds . USA . 
Fund . Putnam Growth Opportunities
PGODX Fund  USD 75.38  0.36  0.48%   
The current 90-days correlation between Putnam Growth Opport and Harbor Diversified International is 0.06 (i.e., Significant diversification). The correlation of Putnam Growth 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 Growth Correlation With Market

Good diversification

The correlation between Putnam Growth Opportunities and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Growth Opportunities 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 Growth Opportunities. 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 unemployment.

Moving together with Putnam Mutual Fund

  0.91PEYAX Putnam Equity IncomePairCorr
  0.97PFICX Putnam Floating RatePairCorr
  0.93PFJAX Putnam High YieldPairCorr
  0.97PFLLX Putnam Floating RatePairCorr
  0.97PFRYX Putnam Floating RatePairCorr
  0.97PFRZX Putnam Floating RatePairCorr
  0.94PGEYX George PutnamPairCorr
  0.96PGFMX Putnam Global FinancialsPairCorr
  0.98PGEJX George Putnam BalancedPairCorr
  0.98PGEOX George PutnamPairCorr
  0.98PGELX George Putnam BalancedPairCorr
  0.98PGEMX George PutnamPairCorr
  0.99PGIAX Pnc Fds GrPairCorr
  0.99PGIEX Putnam Global IndustrialsPairCorr
  0.95PGIOX Putnam Global IndustrialsPairCorr
  0.91PGLEX Putnam Global EquityPairCorr
  0.95PGOEX Putnam Growth OpportPairCorr
  0.94PGPRX George PutnamPairCorr
  0.95PGORX Putnam Growth OpportPairCorr
  0.95PGOYX Putnam Growth OpportPairCorr
  0.98PGPCX George PutnamPairCorr
  1.0PGTRX Putnam Global TechnologyPairCorr
  1.0PGTYX Putnam Global TechnologyPairCorr
  1.0PGTAX Putnam Global TechnologyPairCorr
  0.99PGWTX Putnam Focused EquityPairCorr
  0.94PHAYX Putnam High YieldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Growth 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 Growth'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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