Goldman Sachs Correlations

GMUN Etf

49.69 0.01 0.02%

The current 90-days correlation between Goldman Sachs Community and SSGA Active Trust is -0.21 (i.e., Very good 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 Community 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 Community and DJI is -0.28 (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 Community 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 Community. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Goldman Etf

0.96	MUB	iShares National Muni	Pair Corr
0.96	VTEB	Vanguard Tax Exempt	Pair Corr
0.98	FMB	First Trust Managed	Pair Corr
0.99	ITM	VanEck Intermediate Muni	Pair Corr
0.97	MMIT	IQ MacKay Municipal	Pair Corr
0.95	HMOP	Hartford Municipal	Pair Corr
0.97	TAXF	American Century Div	Pair Corr
0.99	JMUB	JPMorgan Municipal	Pair Corr
0.85	MUST	Columbia Multi Sector	Pair Corr
0.88	MINO	PIMCO ETF Trust	Pair Corr
0.68	KO	Coca Cola Aggressive Push	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.71	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Goldman Etf

0.58	RSPY	Tuttle Capital Management	Pair Corr
0.57	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.55	MEME	Roundhill Investments	Pair Corr
0.54	DSJA	DSJA	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.44	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.43	BTC	Grayscale Bitcoin Mini	Pair Corr
0.68	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.57	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.48	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.46	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.41	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.35	WMT	Walmart Aggressive Push	Pair Corr
0.32	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		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	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	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	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(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	0.29	0.25	0.37	0.90	(1.52)	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	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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