Goldman Sachs Correlations

GMXPX Fund  USD 24.51  0.09  0.37%   
The current 90-days correlation between Goldman Sachs Large and Shelton E Value is 0.72 (i.e., Poor 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

Poor diversification

The correlation between Goldman Sachs Large and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Large 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 Large. 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 american community survey.

Moving together with Goldman Mutual Fund

  0.98AFMFX American MutualPairCorr
  0.98FFMMX American Funds AmericanPairCorr
  0.98FFFMX American Funds AmericanPairCorr
  0.98AMRMX American MutualPairCorr
  0.98AMFCX American MutualPairCorr
  0.99DODGX Dodge Stock FundPairCorr
  0.98VIVAX Vanguard Value IndexPairCorr
  0.94ERH Allspring Utilities AndPairCorr
  0.94WHIYX Ivy High IncomePairCorr
  0.95IVHIX Ivy High IncomePairCorr
  0.94IHIFX Ivy High IncomePairCorr
  0.94WRHIX Ivy High IncomePairCorr
  0.94WHIAX Ivy High IncomePairCorr
  0.78CSJZX Cohen Steers RealtyPairCorr
  0.77CSRSX Cohen Steers RealtyPairCorr
  0.62IBM International BusinessPairCorr

Moving against Goldman Mutual Fund

  0.34TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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.