Goldman Sachs Correlations

GITAX Fund

USD 28.71 0.35 1.20%

The current 90-days correlation between Goldman Sachs Technology and Veea Inc is -0.08 (i.e., Good 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

Poor diversification

The correlation between Goldman Sachs Technology and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Technology 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 Technology. 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

0.61	DYSL	Dynasil Of	Pair Corr
0.83	WEBB	Web Global Holdings	Pair Corr
0.64	WELX	Winland Holdings	Pair Corr
0.78	WGNR	Wegener	Pair Corr
0.83	CETXP	Cemtrex Pref	Pair Corr
0.68	GVP	GSE Systems	Pair Corr

Moving against GOLDMAN Mutual Fund

0.94	EVOL	Evolving Systems	Pair Corr
0.86	DLPX	Delphax Technologies	Pair Corr
0.69	VVPR	VivoPower International Tech Boost	Pair Corr
0.66	VHAI	VHAI	Pair Corr
0.65	SBIGW	SpringBig Holdings	Pair Corr
0.63	DZSI	DZS Inc	Pair Corr
0.59	XELAP	Exela Technologies	Pair Corr
0.45	ELCO	Elcom International	Pair Corr
0.37	VEEA	Veea Inc Symbol Change	Pair Corr
0.33	DMAN	Innovativ Media Group	Pair Corr
0.89	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.89	ZPTAW	Zapata Computing Holdings	Pair Corr
0.88	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.86	VLD	Velo3D Inc	Pair Corr
0.7	SURGW	SurgePays Warrant	Pair Corr
0.54	XELA	Exela Technologies Tech Boost	Pair Corr
0.31	GTLL	Global Techs	Pair Corr

Related Correlations Analysis

	VEEA	VHAI	VVPR	WBTN	GCEBX	GCEDX	GCEEX	GCEGX	GCEJX	GCEPX
VEEA		-0.2	0.25	-0.36	0.66	0.66	0.66	0.66	0.66	0.66	VEEA
VHAI	-0.2		0.76	0.58	0.22	0.21	0.21	0.22	0.22	0.21	VHAI
VVPR	0.25	0.76		0.3	0.42	0.41	0.41	0.42	0.41	0.41	VVPR
WBTN	-0.36	0.58	0.3		-0.05	-0.05	-0.06	-0.05	-0.05	-0.06	WBTN
GCEBX	0.66	0.22	0.42	-0.05		1.0	1.0	1.0	1.0	1.0	GCEBX
GCEDX	0.66	0.21	0.41	-0.05	1.0		1.0	1.0	1.0	1.0	GCEDX
GCEEX	0.66	0.21	0.41	-0.06	1.0	1.0		1.0	1.0	1.0	GCEEX
GCEGX	0.66	0.22	0.42	-0.05	1.0	1.0	1.0		1.0	1.0	GCEGX
GCEJX	0.66	0.22	0.41	-0.05	1.0	1.0	1.0	1.0		1.0	GCEJX
GCEPX	0.66	0.21	0.41	-0.06	1.0	1.0	1.0	1.0	1.0		GCEPX
	VEEA	VHAI	VVPR	WBTN	GCEBX	GCEDX	GCEEX	GCEGX	GCEJX	GCEPX

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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

GCEDX	+ 1.0	GCEBX
GCEEX	+ 1.0	GCEBX
GCEGX	+ 1.0	GCEBX
GCEJX	+ 1.0	GCEBX
GCEPX	+ 1.0	GCEBX
GCEEX	+ 1.0	GCEDX

High negative correlations

WBTN	- 0.36	VEEA
VHAI	- 0.2	VEEA
GCEPX	- 0.06	WBTN
GCEEX	- 0.06	WBTN
GCEJX	- 0.05	WBTN
GCEGX	- 0.05	WBTN

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VEEA	9.21	(0.59)	0.36	11.11	(23.71)	157.04
VHAI	9.97	(1.80)	0.59	20.73	(25.00)	54.90
VVPR	6.20	(0.25)	(0.64)	6.40	(15.56)	112.34
WBTN	3.15	(0.22)	(0.01)	7.65	(7.67)	20.14
GCEBX	0.75	(0.11)	0.64	1.36	(1.75)	8.30
GCEDX	0.75	(0.11)	0.69	1.36	(1.75)	8.18
GCEEX	0.75	(0.11)	0.63	1.36	(1.75)	8.18
GCEGX	0.76	(0.11)	0.59	1.37	(1.66)	8.25
GCEJX	0.75	(0.11)	0.67	1.36	(1.75)	8.19
GCEPX	0.76	(0.11)	0.67	1.36	(1.64)	8.29

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