Goldman Sachs Correlations

GBPG Etf

43.71 0.12 0.28%

The current 90-days correlation between Goldman Sachs Access and Goldman Sachs Access is 0.06 (i.e., Significant diversification). The correlation of Goldman Sachs 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.

Goldman Sachs Correlation With Market

Weak diversification

The correlation between Goldman Sachs Access and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Access and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Goldman Sachs could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goldman Sachs when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Goldman Sachs - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Goldman Sachs Access to buy it.

Moving together with Goldman Etf

0.62

STYC

PIMCO Short Term

Pair Corr

Moving against Goldman Etf

0.65	3ULS	WisdomTree SP 500	Pair Corr
0.56	VILX	SP 500 VIX	Pair Corr
0.37	LQQS	WisdomTree NASDAQ 100	Pair Corr
0.35	NVD2	Leverage Shares 2x	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	0.32	-0.68	0.83	0.61	0.07	0.83	-0.71	-0.51	META
MSFT	-0.19		-0.58	0.11	-0.24	0.18	0.64	-0.35	0.5	-0.21	MSFT
UBER	0.32	-0.58		0.11	0.48	0.01	-0.37	0.56	-0.6	0.47	UBER
F	-0.68	0.11	0.11		-0.38	-0.33	0.18	-0.42	0.5	0.85	F
T	0.83	-0.24	0.48	-0.38		0.34	0.21	0.78	-0.71	-0.19	T
A	0.61	0.18	0.01	-0.33	0.34		0.16	0.67	-0.13	-0.4	A
CRM	0.07	0.64	-0.37	0.18	0.21	0.16		-0.13	0.29	-0.09	CRM
JPM	0.83	-0.35	0.56	-0.42	0.78	0.67	-0.13		-0.73	-0.21	JPM
MRK	-0.71	0.5	-0.6	0.5	-0.71	-0.13	0.29	-0.73		0.16	MRK
XOM	-0.51	-0.21	0.47	0.85	-0.19	-0.4	-0.09	-0.21	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XOM	+ 0.85	F
T	+ 0.83	META
JPM	+ 0.83	META
JPM	+ 0.78	T
JPM	+ 0.67	A
CRM	+ 0.64	MSFT

High negative correlations

MRK	- 0.73	JPM
MRK	- 0.71	T
MRK	- 0.71	META
F	- 0.68	META
MRK	- 0.6	UBER
UBER	- 0.58	MSFT

Goldman Sachs Competition Risk-Adjusted Indicators

There is a big difference between Goldman Etf performing well and Goldman Sachs ETF 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 Goldman Sachs' 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
META	1.22	0.34	0.21	0.81	1.22	(1.31)	3.22	(1.95)	7.11
MSFT	0.99	(0.05)	0.00	(0.20)	0.00	0.00	2.20	(2.14)	10.31
UBER	1.85	0.18	0.06	(1.34)	2.79	(1.88)	4.72	(5.35)	12.29
F	1.35	(0.21)	0.00	(0.31)	0.00	0.00	2.46	(2.90)	11.01
T	0.94	0.24	0.21	0.39	0.93	(1.10)	1.91	(1.75)	7.94
A	1.13	(0.02)	0.00	(0.02)	0.00	0.00	2.81	(2.42)	6.12
CRM	1.50	0.04	0.02	0.07	1.83	(1.65)	3.70	(2.95)	15.92
JPM	0.80	0.24	0.24	0.40	0.73	(0.95)	1.92	(1.39)	5.01
MRK	1.18	(0.31)	0.00	(1.07)	0.00	0.00	2.00	(2.13)	11.57
XOM	0.89	(0.15)	0.00	(0.26)	0.00	0.00	1.72	(2.14)	5.69

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Our tools can tell you how much better you can do entering a position in Goldman Sachs without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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