Goldman Sachs Correlations

GEMD Etf

USD 41.08 0.34 0.83%

The current 90-days correlation between Goldman Sachs ETF and Goldman Sachs ActiveBeta is 0.24 (i.e., Modest 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.

Goldman Sachs Correlation With Market

Average diversification

The correlation between Goldman Sachs ETF and DJI is 0.16 (i.e., Average 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 population.

Moving together with Goldman Etf

0.93	EMB	iShares JP Morgan Symbol Change	Pair Corr
0.98	PCY	Invesco Emerging Markets	Pair Corr
0.86	CEMB	iShares JP Morgan	Pair Corr
0.98	EMHC	SPDR Bloomberg Barclays	Pair Corr
0.76	EMBD	Global X Emerging	Pair Corr
0.69	EMTL	SPDR DoubleLine Emerging	Pair Corr
1.0	JPMB	JPMorgan USD Emerging	Pair Corr
0.83	YCL	ProShares Ultra Yen	Pair Corr
0.76	VIIX	VIIX	Pair Corr
0.79	ULE	ProShares Ultra Euro	Pair Corr
0.85	FXY	Invesco CurrencyShares	Pair Corr

Moving against Goldman Etf

0.75	TSJA	TSJA	Pair Corr
0.75	MSTY	YieldMax MSTR Option	Pair Corr
0.73	DSJA	DSJA	Pair Corr
0.63	PUTW	WisdomTree CBOE SP	Pair Corr
0.61	XLC	Communication Services	Pair Corr
0.59	SIXD	AIM ETF Products	Pair Corr
0.56	BUG	Global X Cybersecurity	Pair Corr
0.72	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.71	USFR	WisdomTree Floating Rate	Pair Corr
0.69	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.67	BTC	Grayscale Bitcoin Mini	Pair Corr
0.67	IBIT	iShares Bitcoin Trust	Pair Corr
0.63	FDN	First Trust Dow	Pair Corr
0.62	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.6	DISO	Tidal Trust II Potential Growth	Pair Corr
0.57	MAGS	Roundhill Magnificent	Pair Corr
0.55	OEF	iShares SP 100	Pair Corr
0.54	ETH	Grayscale Ethereum Mini Downward Rally	Pair Corr
0.53	VTI	Vanguard Total Stock	Pair Corr
0.51	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.51	VOO	Vanguard SP 500	Pair Corr
0.51	DIVB	iShares Dividend	Pair Corr
0.5	SCHD	Schwab Dividend Equity	Pair Corr
0.48	DIVG	Invesco Exchange Traded	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	-0.01	0.59	0.02	0.66	0.28	-0.55	0.71	META
MSFT	0.28		0.24	0.11	0.18	-0.01	0.01	-0.17	0.12	-0.19	MSFT
UBER	0.56	0.24		-0.03	0.0	0.26	0.03	-0.11	0.05	0.36	UBER
F	-0.01	0.11	-0.03		0.06	-0.38	0.4	0.65	-0.28	0.3	F
T	0.59	0.18	0.0	0.06		-0.5	0.75	0.52	-0.77	0.38	T
A	0.02	-0.01	0.26	-0.38	-0.5		-0.48	-0.64	0.64	-0.01	A
CRM	0.66	0.01	0.03	0.4	0.75	-0.48		0.84	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.11	0.65	0.52	-0.64	0.84		-0.83	0.51	JPM
MRK	-0.55	0.12	0.05	-0.28	-0.77	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.36	0.3	0.38	-0.01	0.68	0.51	-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	+ 0.84	CRM
CRM	+ 0.75	T
XOM	+ 0.71	META
XOM	+ 0.68	CRM
CRM	+ 0.66	META
JPM	+ 0.65	F

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.77	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.55	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	0.02	(0.01)	0.15	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.83)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.25	(1.79)	2.69	(2.44)	20.10
F	1.41	(0.13)	(0.03)	0.03	2.20	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.13	(10.00)	0.86	(1.04)	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	1.28	0.26	0.21	0.35	0.91	(1.51)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.88	(0.24)	0.00	(0.81)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.03	0.00	(0.04)	0.12	1.25	(1.10)	2.14	(2.09)	5.78

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