Goldman Sachs Correlations

GICAX Fund

USD 13.04 0.11 0.85%

The current 90-days correlation between Goldman Sachs Intern and Goldman Sachs International is 1.0 (i.e., No risk reduction). 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 International and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs International 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 International. 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 Goldman Mutual Fund

0.9	GCEBX	Goldman Sachs Clean	Pair Corr
0.9	GCEDX	Goldman Sachs Clean	Pair Corr
0.9	GCEEX	Goldman Sachs Clean	Pair Corr
0.9	GCEGX	Goldman Sachs Clean	Pair Corr
0.9	GCEJX	Goldman Sachs Clean	Pair Corr
0.9	GCEPX	Goldman Sachs Clean	Pair Corr
0.75	GCFCX	Goldman Sachs E	Pair Corr
0.74	GCFIX	Goldman Sachs E	Pair Corr
0.75	GCFUX	Goldman Sachs E	Pair Corr
0.96	GCIRX	Goldman Sachs Intern	Pair Corr
0.9	GCITX	Goldman Sachs Intern	Pair Corr
0.96	GCIUX	Goldman Sachs Intern	Pair Corr
0.96	GCIAX	Goldman Sachs Intern	Pair Corr
0.96	GCTMX	Goldman Sachs Intern	Pair Corr

Moving against Goldman Mutual Fund

0.54	GCMAX	Goldman Sachs Mid	Pair Corr
0.5	GCVIX	Goldman Sachs Large	Pair Corr
0.49	GCLSX	Goldman Sachs Large	Pair Corr
0.49	GCTAX	Goldman Sachs Tax	Pair Corr
0.49	GCTRX	Goldman Sachs Tax	Pair Corr
0.49	GCVRX	Goldman Sachs Large	Pair Corr
0.49	GCVUX	Goldman Sachs Large	Pair Corr
0.48	GCVCX	Goldman Sachs Large	Pair Corr
0.47	GCGIX	Goldman Sachs Large	Pair Corr
0.47	GCSUX	Goldman Sachs Small	Pair Corr
0.45	GDEUX	Goldman Sachs Dynamic	Pair Corr
0.44	GCGVX	Goldman Sachs Dynamic	Pair Corr
0.68	GFRSX	Goldman Sachs High	Pair Corr
0.67	GFRCX	Goldman Sachs High	Pair Corr
0.66	GFRIX	Goldman Sachs High	Pair Corr
0.65	GGOIX	Goldman Sachs Growth	Pair Corr
0.65	GGOAX	Goldman Sachs Growth	Pair Corr
0.64	GGOSX	Goldman Sachs Growth	Pair Corr
0.54	GFVUX	Goldman Sachs Focused	Pair Corr
0.54	GFVCX	Goldman Sachs Focused	Pair Corr
0.54	GFVRX	Goldman Sachs Focused	Pair Corr

Related Correlations Analysis

	GICIX	GICAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
GICIX		1.0	0.41	0.0	-0.25	0.19	-0.09	0.38	0.66	-0.71	GICIX
GICAX	1.0		0.41	0.0	-0.24	0.19	-0.09	0.38	0.65	-0.71	GICAX
444859BR2	0.41	0.41		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.25	-0.24	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.19	0.19	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	-0.09	-0.09	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.38	0.38	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	0.66	0.65	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	-0.71	-0.71	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	GICIX	GICAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

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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

GICAX	+ 1.0	GICIX
LBHIX	+ 0.67	MSTSX
SCAXF	+ 0.66	GICIX
SCAXF	+ 0.65	GICAX
ABHYX	+ 0.51	LBHIX
444859BR2	+ 0.41	GICIX

High negative correlations

VIASP	- 0.8	SCAXF
VIASP	- 0.71	GICAX
VIASP	- 0.71	GICIX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY

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
GICIX	0.60	(0.13)	0.00	(0.19)	0.00	0.00	1.06	(1.35)	4.13
GICAX	0.60	(0.13)	0.00	(0.17)	0.00	0.00	1.06	(1.35)	4.20
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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