Goldman Sachs Correlations

GERIX Fund

USD 8.71 0.01 0.11%

The current 90-days correlation between Goldman Sachs Emerging and Fidelity Advisor Energy is 0.12 (i.e., Average 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 Emerging and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Emerging 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 Emerging. 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 gross domestic product.

Moving together with Goldman Mutual Fund

0.82	GCEBX	Goldman Sachs Clean	Pair Corr
0.82	GCEDX	Goldman Sachs Clean	Pair Corr
0.82	GCEEX	Goldman Sachs Clean	Pair Corr
0.82	GCEGX	Goldman Sachs Clean	Pair Corr
0.82	GCEJX	Goldman Sachs Clean	Pair Corr
0.82	GCEPX	Goldman Sachs Clean	Pair Corr
0.63	GCFCX	Goldman Sachs E	Pair Corr
0.82	GCICX	Goldman Sachs Intern	Pair Corr
0.81	GCISX	Goldman Sachs Intern	Pair Corr
0.82	GCIUX	Goldman Sachs Intern	Pair Corr
0.98	GEBAX	Goldman Sachs Esg	Pair Corr
0.98	GEBIX	Goldman Sachs Esg	Pair Corr
0.98	GEMIX	Goldman Sachs Emerging	Pair Corr
0.87	GGDPX	Goldman Sachs Intern	Pair Corr
0.91	GGHPX	Goldman Sachs Intern	Pair Corr

Moving against Goldman Mutual Fund

0.39	GDUSX	Goldman Sachs Short	Pair Corr
0.73	GFRIX	Goldman Sachs High	Pair Corr
0.7	GFRAX	Goldman Sachs High	Pair Corr
0.66	GEIAX	Goldman Sachs Enhanced	Pair Corr
0.63	GEIIX	Goldman Sachs Enhanced	Pair Corr
0.43	GZIRX	Goldman Sachs Strategic	Pair Corr

Related Correlations Analysis

	FIKAX	XEMOX	PNRZX	PDX	TMCLX	AIWEX	SMAPX
FIKAX		0.61	0.88	0.36	0.61	0.74	0.63	FIKAX
XEMOX	0.61		0.33	0.77	0.95	0.95	0.94	XEMOX
PNRZX	0.88	0.33		0.08	0.29	0.5	0.33	PNRZX
PDX	0.36	0.77	0.08		0.83	0.67	0.85	PDX
TMCLX	0.61	0.95	0.29	0.83		0.89	0.99	TMCLX
AIWEX	0.74	0.95	0.5	0.67	0.89		0.89	AIWEX
SMAPX	0.63	0.94	0.33	0.85	0.99	0.89		SMAPX
	FIKAX	XEMOX	PNRZX	PDX	TMCLX	AIWEX	SMAPX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Goldman Mutual Fund performing well and Goldman Sachs 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 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
FIKAX	0.78	0.03	0.01	0.11	1.01	(0.80)	1.42	(1.87)	6.03
XEMOX	0.92	0.24	0.16	0.70	0.97	(1.09)	2.34	(1.58)	6.88
PNRZX	0.80	(0.01)	(0.02)	0.00	1.09	(0.79)	1.54	(1.54)	5.66
PDX	1.58	0.30	0.11	0.46	2.18	(2.04)	3.33	(2.05)	21.31
TMCLX	0.88	0.20	0.15	0.52	0.98	(0.98)	1.88	(1.93)	5.62
AIWEX	0.89	0.20	0.19	0.73	0.76	(1.09)	1.97	(1.18)	7.37
SMAPX	0.88	0.19	0.15	0.51	0.92	(0.96)	2.10	(1.83)	5.45

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