Goldman Sachs Correlations

Mutual Funds . USA . 
Fund . Goldman Sachs Mid
GCMCX Fund  USD 27.30  0.14  0.51%   
The current 90-days correlation between Goldman Sachs Mid and Prudential High Yield is 0.43 (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

Poor diversification

The correlation between Goldman Sachs Mid 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 Mid 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 Mid. 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

  0.89GCGIX Goldman Sachs LargePairCorr
  0.96GCGVX Goldman Sachs DynamicPairCorr
  1.0GCMRX Goldman Sachs MidPairCorr
  0.96GCLLX Goldman Sachs FlexiblePairCorr
  0.96GCTCX Goldman Sachs TaxPairCorr
  0.96GCTIX Goldman Sachs TaxPairCorr
  0.96GCTSX Goldman Sachs TaxPairCorr
  0.96GCSAX Goldman Sachs SmallPairCorr
  0.8GCVAX Goldman Sachs LargePairCorr
  0.81GCVCX Goldman Sachs LargePairCorr
  0.79GCVUX Goldman Sachs LargePairCorr
  0.96GDSRX Goldman Sachs SmallPairCorr
  0.92GVIRX Goldman Sachs EquityPairCorr
  0.71GEMOX Goldman Sachs EmergingPairCorr
  0.96GFCUX Goldman Sachs FlexiblePairCorr

Moving against Goldman Mutual Fund

  0.67GCEBX Goldman Sachs CleanPairCorr
  0.67GCEDX Goldman Sachs CleanPairCorr
  0.67GCEEX Goldman Sachs CleanPairCorr
  0.67GCEJX Goldman Sachs CleanPairCorr
  0.67GCEPX Goldman Sachs CleanPairCorr
  0.66GCEGX Goldman Sachs CleanPairCorr
  0.55GEADX Goldman Sachs EnhancedPairCorr
  0.52GCFCX Goldman Sachs EPairCorr
  0.5GDIAX Goldman Sachs ShortPairCorr
  0.5GDICX Goldman Sachs ShortPairCorr
  0.5GDIUX Goldman Sachs ShortPairCorr
  0.49GCISX Goldman Sachs InternPairCorr
  0.49GCIAX Goldman Sachs InternPairCorr
  0.48GDFIX Goldman Sachs ShortPairCorr
  0.37GEBRX Goldman Sachs EsgPairCorr
  0.6GGIUX Goldman Sachs MortgagesPairCorr
  0.59GGTPX Goldman Sachs GovernmentPairCorr
  0.58SVPFX Goldman Sachs StrategicPairCorr
  0.53GHTRX Goldman Sachs InternPairCorr
  0.49GGDPX Goldman Sachs InternPairCorr
  0.38GEBSX Goldman Sachs EsgPairCorr
  0.38GEMUX Goldman Sachs EmergingPairCorr
  0.37GEMCX Goldman Sachs EmergingPairCorr
  0.34GGIAX Goldman Sachs GlobalPairCorr
  0.34GGIJX Goldman Sachs GlobalPairCorr

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.

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