Goldman Sachs Correlations

GEMD Etf

USD 40.61 0.03 0.07%

The current 90-days correlation between Goldman Sachs ETF and Goldman Sachs ActiveBeta is -0.18 (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.

Goldman Sachs Correlation With Market

Good diversification

The correlation between Goldman Sachs ETF and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Goldman Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Goldman Sachs ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Goldman Etf

0.97	EMB	iShares JP Morgan	Pair Corr
0.96	PCY	Invesco Emerging Markets	Pair Corr
0.96	HYEM	VanEck Emerging Markets	Pair Corr
0.99	EMHY	iShares JP Morgan	Pair Corr
0.99	CEMB	iShares JP Morgan	Pair Corr
0.96	XEMD	Bondbloxx ETF Trust	Pair Corr
0.97	EMHC	SPDR Bloomberg Barclays	Pair Corr
0.98	EMBD	Global X Emerging	Pair Corr
0.97	EMTL	SPDR DoubleLine Emerging	Pair Corr
0.97	JPMB	JPMorgan USD Emerging	Pair Corr
0.94	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.94	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.94	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.76	BND	Vanguard Total Bond	Pair Corr
0.95	VTV	Vanguard Value Index	Pair Corr
0.93	VUG	Vanguard Growth Index	Pair Corr
0.93	VO	Vanguard Mid Cap	Pair Corr
0.94	VEA	Vanguard FTSE Developed	Pair Corr
0.91	VB	Vanguard Small Cap	Pair Corr
0.93	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.79	MMM	3M Company	Pair Corr
0.86	BA	Boeing	Pair Corr
0.94	CSCO	Cisco Systems	Pair Corr
0.92	MSFT	Microsoft	Pair Corr
0.92	PFE	Pfizer Inc	Pair Corr
0.92	IBM	International Business Earnings Call This Week	Pair Corr
0.68	XOM	Exxon Mobil Corp	Pair Corr
0.88	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.85	CVX	Chevron Corp	Pair Corr
0.92	AXP	American Express	Pair Corr
0.9	DIS	Walt Disney	Pair Corr

Moving against Goldman Etf

0.75	MCD	McDonalds	Pair Corr
0.56	PG	Procter Gamble	Pair Corr
0.53	KO	Coca Cola Earnings Call This Week	Pair Corr
0.44	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.57	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.59	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.54	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.73	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.16	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.63	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.08	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.68	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.56	MRK
XOM	0.57	0.59	0.54	0.73	0.16	0.63	-0.08	0.68	0.56		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.08	CRM

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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.08	0.14	0.00	(9.00)	1.19	(1.12)	2.40	(2.51)	5.84

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