Goldman Sachs Correlations

GERCX Fund

USD 8.59 0.06 0.70%

The current 90-days correlation between Goldman Sachs Emerging and Sp Smallcap 600 is 0.26 (i.e., Modest 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

Modest diversification

The correlation between Goldman Sachs Emerging and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Emerging 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 Emerging. 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

0.71	VEMAX	Vanguard Emerging Markets	Pair Corr
0.71	VEIEX	Vanguard Emerging Markets	Pair Corr
0.92	VEMIX	Vanguard Emerging Markets	Pair Corr
0.92	VEMRX	Vanguard Emerging Markets	Pair Corr
0.83	FWWNX	American Funds New	Pair Corr
0.83	FNFWX	American Funds New	Pair Corr
0.83	NEWFX	New World Fund	Pair Corr
0.65	NWFFX	New World Fund	Pair Corr
0.83	NEWCX	New World Fund	Pair Corr
0.9	ODVYX	Oppenheimer Developing	Pair Corr

Moving against Goldman Mutual Fund

0.51	CLM	Cornerstone Strategic	Pair Corr
0.49	CII	Blackrock Enhanced	Pair Corr
0.42	ETV	Eaton Vance Tax	Pair Corr
0.42	ETY	Eaton Vance Tax	Pair Corr
0.34	CRF	Cornerstone Strategic	Pair Corr
0.54	AXP	American Express Earnings Call This Week	Pair Corr
0.47	JPM	JPMorgan Chase	Pair Corr
0.38	WMT	Walmart	Pair Corr

Related Correlations Analysis

	RYSVX	PSBMX	NESGX	MSSGX	CIPNX
RYSVX		0.85	0.76	0.63	0.87	RYSVX
PSBMX	0.85		0.49	0.21	0.94	PSBMX
NESGX	0.76	0.49		0.77	0.46	NESGX
MSSGX	0.63	0.21	0.77		0.3	MSSGX
CIPNX	0.87	0.94	0.46	0.3		CIPNX
	RYSVX	PSBMX	NESGX	MSSGX	CIPNX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYSVX	0.93	0.04	0.03	0.11	1.21	(0.96)	1.99	(1.76)	10.89
PSBMX	0.86	(0.01)	(0.01)	0.00	1.22	(0.85)	1.48	(1.54)	9.63
NESGX	1.22	0.07	0.05	0.14	1.36	(1.35)	2.41	(2.29)	7.89
MSSGX	1.57	0.40	0.21	0.83	1.54	(1.97)	3.81	(2.32)	11.74
CIPNX	0.96	(0.02)	0.00	(0.02)	0.00	0.00	1.58	(1.67)	16.78

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