Putnam Global Correlations

PGTAX Fund

USD 76.06 0.33 0.43%

The current 90-days correlation between Putnam Global Technology and BlackRock Health Sciences is 0.6 (i.e., Poor 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 Technology 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 Technology 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 Technology. 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 nation.

Moving together with Putnam Mutual Fund

0.66	VVPR	VivoPower International Upward Rally	Pair Corr
0.96	DBD	Diebold Nixdorf,	Pair Corr
0.63	GENVR	Gen Digital Contingent	Pair Corr
0.61	OUSTZ	Ouster, Warrants	Pair Corr
0.75	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.83	BULLW	Webull Warrants	Pair Corr
0.62	JNPR	Juniper Networks	Pair Corr
0.77	MIND	Mind Technology	Pair Corr
0.93	HPE-PC	Hewlett Packard Ente	Pair Corr
0.91	CORZZ	Core Scientific, Tranche	Pair Corr
0.8	RZLVW	Rezolve AI Limited	Pair Corr
0.71	AMPL	Amplitude	Pair Corr
0.82	SATX	SatixFy Communications	Pair Corr

Moving against Putnam Mutual Fund

0.85	HPAIW	Helport AI Limited	Pair Corr
0.84	VSTE	Vast Renewables	Pair Corr
0.78	VISL	Vislink Technologies	Pair Corr
0.66	EXOD	Exodus Movement,	Pair Corr
0.6	APCXW	AppTech Payments Corp	Pair Corr
0.38	VBIX	Viewbix Common Stock	Pair Corr
0.83	NOVA	Sunnova Energy Inter	Pair Corr
0.69	SLNHP	Soluna Holdings Preferred Upward Rally	Pair Corr
0.55	ODYS	Odysightai Common Stock	Pair Corr
0.72	APCX	Apptech Corp	Pair Corr

Related Correlations Analysis

	BMEZ	BST	ACV	NBXG	DLY
BMEZ		0.75	0.75	0.24	0.59	BMEZ
BST	0.75		0.99	0.63	0.7	BST
ACV	0.75	0.99		0.57	0.69	ACV
NBXG	0.24	0.63	0.57		0.76	NBXG
DLY	0.59	0.7	0.69	0.76		DLY
	BMEZ	BST	ACV	NBXG	DLY

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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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BMEZ	1.03	(0.04)	(0.07)	0.18	1.27	(1.06)	2.80	(1.77)	8.48
BST	0.93	0.18	0.17	0.41	0.56	(1.13)	2.71	(1.19)	13.75
ACV	0.80	0.28	0.20	0.61	0.04	(0.94)	1.81	(0.97)	10.76
NBXG	0.85	0.31	0.09	5.59	0.57	(1.06)	2.62	(1.36)	5.57
DLY	0.38	0.04	(0.34)	1.26	0.41	(0.45)	1.01	(0.96)	2.41

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