Goldman Sachs Correlations

GITCX Fund

USD 15.82 0.06 0.38%

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 0.74 (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 main economic indicators.

Moving together with Goldman Mutual Fund

0.73	VVPR	VivoPower International Downward Rally	Pair Corr
0.91	DBD	Diebold Nixdorf,	Pair Corr
0.67	GENVR	Gen Digital Contingent	Pair Corr
0.61	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.74	BULLW	Webull Warrants Tech Boost	Pair Corr
0.66	MIND	Mind Technology	Pair Corr
0.89	HPE-PC	Hewlett Packard Ente	Pair Corr
0.9	CORZZ	Core Scientific, Tranche	Pair Corr
0.72	RZLVW	Rezolve AI Limited	Pair Corr
0.81	SATX	SatixFy Communications	Pair Corr
0.86	STRF	MicroStrategy Incorporated	Pair Corr
0.92	GCEBX	Goldman Sachs Clean	Pair Corr
0.93	GCEDX	Goldman Sachs Clean	Pair Corr
0.93	GCEEX	Goldman Sachs Clean	Pair Corr

Moving against Goldman Mutual Fund

0.84	HPAIW	Helport AI Limited	Pair Corr
0.82	VSTE	Vast Renewables	Pair Corr
0.75	VISL	Vislink Technologies	Pair Corr
0.58	APCXW	AppTech Payments Corp	Pair Corr
0.57	EXOD	Exodus Movement,	Pair Corr
0.33	DVLT	Datavault AI Symbol Change	Pair Corr
0.9	SMTK	SmartKem, Common Stock	Pair Corr
0.83	NOVA	Sunnova Energy Inter	Pair Corr
0.69	APCX	Apptech Corp	Pair Corr
0.48	ODYS	Odysightai Common Stock	Pair Corr
0.45	SLNHP	Soluna Holdings Preferred	Pair Corr
0.4	AXIL	AXIL Brands, Trending	Pair Corr

Related Correlations Analysis

	YB	VBIX	DVLT	VVPR	EXOD	GCEBX	GCEDX	GCEEX	GCEGX	GCEJX
YB		-0.27	-0.55	-0.1	-0.09	0.33	0.33	0.33	0.33	0.33	YB
VBIX	-0.27		0.4	0.18	0.22	-0.4	-0.39	-0.39	-0.39	-0.39	VBIX
DVLT	-0.55	0.4		-0.02	0.04	-0.45	-0.45	-0.45	-0.45	-0.45	DVLT
VVPR	-0.1	0.18	-0.02		-0.4	0.61	0.61	0.6	0.6	0.6	VVPR
EXOD	-0.09	0.22	0.04	-0.4		-0.61	-0.6	-0.59	-0.6	-0.6	EXOD
GCEBX	0.33	-0.4	-0.45	0.61	-0.61		0.98	0.98	0.98	0.98	GCEBX
GCEDX	0.33	-0.39	-0.45	0.61	-0.6	0.98		1.0	1.0	1.0	GCEDX
GCEEX	0.33	-0.39	-0.45	0.6	-0.59	0.98	1.0		1.0	1.0	GCEEX
GCEGX	0.33	-0.39	-0.45	0.6	-0.6	0.98	1.0	1.0		1.0	GCEGX
GCEJX	0.33	-0.39	-0.45	0.6	-0.6	0.98	1.0	1.0	1.0		GCEJX
	YB	VBIX	DVLT	VVPR	EXOD	GCEBX	GCEDX	GCEEX	GCEGX	GCEJX

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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

GCEEX	+ 1.0	GCEDX
GCEGX	+ 1.0	GCEDX
GCEJX	+ 1.0	GCEDX
GCEGX	+ 1.0	GCEEX
GCEJX	+ 1.0	GCEEX
GCEJX	+ 1.0	GCEGX

High negative correlations

GCEBX	- 0.61	EXOD
GCEJX	- 0.6	EXOD
GCEGX	- 0.6	EXOD
GCEDX	- 0.6	EXOD
GCEEX	- 0.59	EXOD
DVLT	- 0.55	YB

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
YB	3.77	0.92	0.23	1.89	3.09	(4.85)	14.01	(6.02)	27.13
VBIX	7.74	0.18	0.02	0.24	12.14	(8.14)	14.34	(20.18)	88.20
DVLT	5.32	0.12	0.02	0.25	5.82	(6.78)	13.92	(9.89)	33.36
VVPR	7.88	1.93	0.19	(10.13)	8.30	(9.98)	22.54	(11.48)	62.08
EXOD	6.48	0.27	0.02	0.79	8.40	(6.61)	16.85	(9.78)	43.33
GCEBX	0.66	0.20	0.06	(4.18)	0.63	(0.82)	1.84	(1.31)	4.42
GCEDX	0.69	0.20	0.09	1.21	0.57	(0.87)	1.86	(1.40)	4.41
GCEEX	0.69	0.20	0.08	1.35	0.57	(0.86)	1.84	(1.40)	4.52
GCEGX	0.70	0.20	0.09	1.30	0.59	(0.91)	1.85	(1.41)	4.44
GCEJX	0.69	0.20	0.09	1.22	0.57	(0.85)	1.84	(1.40)	4.42

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