Goldman Sachs Correlations

Mutual Funds USA . 
Fund . Goldman Sachs High
GSHIX Fund  USD 5.61  0.02  0.36%   
The current 90-days correlation between Goldman Sachs High and Barings Active Short is 0.06 (i.e., Significant 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

GoldmanDowDiversified AwayGoldmanDowDiversified Away100%

Good diversification

The correlation between Goldman Sachs High and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs High 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 High. 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

  0.86VWEAX Vanguard High YieldPairCorr
  0.85VWEHX Vanguard High YieldPairCorr
  0.92BHYCX Blackrock Hi YldPairCorr
  0.99BHYIX Blackrock High YieldPairCorr
  0.99BHYSX Blackrock Hi YldPairCorr
  0.92BHYAX Blackrock High YieldPairCorr
  0.98FAHHX American Funds AmericanPairCorr
  0.98FTAHX American Funds AmericanPairCorr
  0.98AHTFX American High IncomePairCorr
  0.98AHTCX American High IncomePairCorr
  0.72BRUFX Bruce Fund BrucePairCorr
  0.7KF Korea ClosedPairCorr
  0.62KO Coca Cola Sell-off TrendPairCorr
  0.61DD Dupont De NemoursPairCorr
  0.71GE GE AerospacePairCorr

Moving against Goldman Mutual Fund

  0.62MRK Merck CompanyPairCorr
  0.45AA Alcoa CorpPairCorr
  0.41MSFT MicrosoftPairCorr

Related Correlations Analysis

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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   
CENTX
+ 0.99
FGFAX
FGFAX
+ 0.91
REMVX
CENTX
+ 0.91
REMVX
FGFAX
+ 0.89
BXDCX
CENTX
+ 0.87
BXDCX
CENTX
+ 0.77
OPTCX
  
High negative correlations   
KMVAX
- 0.55
BXDCX
AUERX
- 0.46
BXDCX
FGFAX
- 0.45
KMVAX
CENTX
- 0.41
KMVAX
KMVAX
- 0.36
REMVX
OPTCX
- 0.26
KMVAX

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.

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