Goldman Sachs Correlations

GSCGX Fund

USD 33.42 0.33 1.00%

The current 90-days correlation between Goldman Sachs Capital and Nasdaq 100 Profund Nasdaq 100 is 0.54 (i.e., Very weak 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

Modest diversification

The correlation between Goldman Sachs Capital and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Capital 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 Capital. 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 price.

Moving together with Goldman Mutual Fund

0.63	GCEBX	Goldman Sachs Clean	Pair Corr
0.64	GCEDX	Goldman Sachs Clean	Pair Corr
0.64	GCEEX	Goldman Sachs Clean	Pair Corr
0.64	GCEGX	Goldman Sachs Clean	Pair Corr
0.63	GCEJX	Goldman Sachs Clean	Pair Corr
0.64	GCEPX	Goldman Sachs Clean	Pair Corr
0.86	GCGIX	Goldman Sachs Large	Pair Corr
0.67	GCFCX	Goldman Sachs E	Pair Corr
0.71	GCFIX	Goldman Sachs E	Pair Corr
0.71	GCFUX	Goldman Sachs E	Pair Corr
0.82	GCICX	Goldman Sachs Intern	Pair Corr
0.81	GCIIX	Goldman Sachs Intern	Pair Corr
0.77	GCIRX	Goldman Sachs Intern	Pair Corr
0.81	GCISX	Goldman Sachs Intern	Pair Corr
0.76	GCITX	Goldman Sachs Intern	Pair Corr
0.81	GCIUX	Goldman Sachs Intern	Pair Corr
0.76	GCIAX	Goldman Sachs Intern	Pair Corr
0.98	GCMRX	Goldman Sachs Mid	Pair Corr
0.98	GCMTX	Goldman Sachs Mid	Pair Corr
0.96	GCMUX	Goldman Sachs Mid	Pair Corr
0.99	GCLSX	Goldman Sachs Large	Pair Corr
0.96	GCMAX	Goldman Sachs Mid	Pair Corr
0.96	GCMCX	Goldman Sachs Mid	Pair Corr
0.99	GCSAX	Goldman Sachs Small	Pair Corr
0.99	GCSCX	Goldman Sachs Small	Pair Corr
0.98	GCSIX	Goldman Sachs Small	Pair Corr

Moving against Goldman Mutual Fund

0.34

GDFIX

Goldman Sachs Short

Pair Corr

Related Correlations Analysis

	OTPIX	NJCCX	OPTCX	PRDEX	LAVVX	TRSAX	LEQCX
OTPIX		0.19	0.85	0.0	0.39	0.28	0.78	OTPIX
NJCCX	0.19		0.19	0.0	0.47	0.76	0.49	NJCCX
OPTCX	0.85	0.19		0.0	0.45	0.18	0.89	OPTCX
PRDEX	0.0	0.0	0.0		0.0	0.0	0.0	PRDEX
LAVVX	0.39	0.47	0.45	0.0		0.66	0.63	LAVVX
TRSAX	0.28	0.76	0.18	0.0	0.66		0.46	TRSAX
LEQCX	0.78	0.49	0.89	0.0	0.63	0.46		LEQCX
	OTPIX	NJCCX	OPTCX	PRDEX	LAVVX	TRSAX	LEQCX

Click cells to compare fundamentals

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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

LEQCX	+ 0.89	OPTCX
OPTCX	+ 0.85	OTPIX
LEQCX	+ 0.78	OTPIX
TRSAX	+ 0.76	NJCCX
TRSAX	+ 0.66	LAVVX
LEQCX	+ 0.63	LAVVX

High negative correlations

LEQCX	- 0.0	PRDEX
TRSAX	- 0.0	PRDEX
LAVVX	- 0.0	PRDEX
PRDEX	- 0.0	OPTCX
PRDEX	- 0.0	NJCCX
PRDEX	- 0.0	OTPIX

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
OTPIX	0.85	0.08	0.05	0.28	1.06	(0.87)	1.70	(1.78)	6.31
NJCCX	0.23	(0.03)	0.00	(0.33)	0.00	0.00	0.47	(0.48)	1.73
OPTCX	0.14	0.02	(0.02)	0.81	0.00	(0.20)	0.31	(0.31)	1.35
PRDEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LAVVX	0.55	0.06	0.07	0.20	0.55	(0.66)	1.25	(0.78)	5.94
TRSAX	0.89	(0.01)	(0.02)	(0.01)	1.79	(0.76)	1.54	(2.26)	8.77
LEQCX	0.41	0.04	0.04	0.31	0.43	(0.44)	0.87	(0.71)	2.97

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