Putnam Global Correlations

PGHAX Fund

USD 75.95 0.46 0.61%

The current 90-days correlation between Putnam Global Health and Putnam Tax Exempt is -0.05 (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 Health 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 Health 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 Health. 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

0.81	PEYAX	Putnam Equity Income	Pair Corr
0.75	PEXTX	Putnam Tax Exempt	Pair Corr
0.93	PFJAX	Putnam High Yield	Pair Corr
0.84	PFLRX	Putnam Floating Rate	Pair Corr
0.86	PFLLX	Putnam Floating Rate	Pair Corr
0.85	PFRBX	Putnam Floating Rate	Pair Corr
0.86	PFRYX	Putnam Floating Rate	Pair Corr
0.84	PFRZX	Putnam Floating Rate	Pair Corr
0.76	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.77	PXMNX	Putnam Minnesota Tax	Pair Corr
0.77	PXOHX	Putnam Ohio Tax	Pair Corr
0.9	PGBRX	Putnam Global Income	Pair Corr
0.9	PGGYX	Putnam Global Incm	Pair Corr
0.9	PGGDX	Putnam Global Income	Pair Corr
0.9	PGGEX	Putnam Global Income	Pair Corr
0.9	PGGLX	Putnam Global Incm	Pair Corr
0.9	PGGIX	Putnam Global Income	Pair Corr
0.9	PGLBX	Putnam Global Income	Pair Corr
0.74	PGNBX	Putnam International	Pair Corr
0.83	PGSBX	Putnam U S	Pair Corr

Moving against Putnam Mutual Fund

0.41	PGTDX	Putnam Global Technology	Pair Corr
0.4	PGTYX	Putnam Global Technology	Pair Corr
0.4	PGTAX	Putnam Global Technology	Pair Corr
0.37	PGTRX	Putnam Global Technology	Pair Corr

Related Correlations Analysis

	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRYX	PFRZX	PXOHX	PGBRX	PGEYX
PEXTX		0.68	0.86	0.9	0.88	0.87	0.87	0.99	0.95	0.34	PEXTX
PFICX	0.68		0.74	0.74	0.77	0.75	0.72	0.7	0.75	0.43	PFICX
PFJAX	0.86	0.74		0.93	0.94	0.94	0.93	0.88	0.95	0.61	PFJAX
PFLRX	0.9	0.74	0.93		0.96	0.97	0.96	0.91	0.93	0.48	PFLRX
PFLLX	0.88	0.77	0.94	0.96		1.0	0.99	0.89	0.91	0.51	PFLLX
PFRYX	0.87	0.75	0.94	0.97	1.0		0.99	0.88	0.91	0.51	PFRYX
PFRZX	0.87	0.72	0.93	0.96	0.99	0.99		0.87	0.9	0.49	PFRZX
PXOHX	0.99	0.7	0.88	0.91	0.89	0.88	0.87		0.96	0.39	PXOHX
PGBRX	0.95	0.75	0.95	0.93	0.91	0.91	0.9	0.96		0.47	PGBRX
PGEYX	0.34	0.43	0.61	0.48	0.51	0.51	0.49	0.39	0.47		PGEYX
	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRYX	PFRZX	PXOHX	PGBRX	PGEYX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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
PEXTX	0.13	0.04	(0.33)	(0.28)	0.00	(0.23)	0.38	(0.26)	1.26
PFICX	0.09	0.01	(0.44)	0.29	0.00	(0.25)	0.25	(0.13)	1.27
PFJAX	0.12	0.06	0.00	5.98	0.00	0.00	0.19	(0.19)	0.95
PFLRX	0.08	0.02	(0.42)	(0.98)	0.00	(0.32)	0.25	(0.13)	1.02
PFLLX	0.08	0.02	0.00	(0.43)	0.00	0.00	0.25	(0.13)	1.14
PFRYX	0.09	0.02	(0.35)	(0.42)	0.00	(0.29)	0.25	(0.13)	1.14
PFRZX	0.10	0.03	(0.46)	(0.46)	0.00	(0.29)	0.38	(0.13)	1.27
PXOHX	0.11	0.03	(0.43)	(0.30)	0.00	(0.20)	0.24	(0.24)	1.07
PGBRX	0.20	0.08	(0.17)	(0.70)	0.00	(0.25)	0.49	(0.39)	1.38
PGEYX	0.49	(0.02)	(0.09)	0.08	0.59	(0.50)	1.12	(1.08)	3.09

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC