Goldman Sachs Correlations

GCAL Etf

50.72 0.08 0.16%

The current 90-days correlation between Goldman Sachs ETF and BlackRock High Yield is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Goldman Sachs moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Goldman Sachs ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Goldman Sachs Correlation With Market

Very good diversification

The correlation between Goldman Sachs ETF and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Goldman Sachs ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Goldman Etf

0.95	MMCA	IndexIQ Active ETF	Pair Corr
0.96	SMI	VanEck Vectors ETF	Pair Corr
0.61	SCHH	Schwab REIT ETF	Pair Corr

Moving against Goldman Etf

0.46

NVDL

GraniteShares 15x Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		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

JPM	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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