Goldman Sachs Correlations

GITAX Fund

USD 28.33 0.20 0.71%

The current 90-days correlation between Goldman Sachs Technology and Columbia Global Technology is -0.03 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Goldman Sachs Correlation With Market

Good diversification

The correlation between Goldman Sachs Technology 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 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 nation.

Moving together with Goldman Mutual Fund

0.62	INGM	Ingram Micro Holding	Pair Corr
0.64	PENG	Penguin Solutions, Symbol Change	Pair Corr

Moving against Goldman Mutual Fund

0.47	DVLT	Datavault AI Symbol Change	Pair Corr
0.43	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.35	VISL	Vislink Technologies Tech Boost	Pair Corr
0.4	VEEAW	Veea Inc Symbol Change	Pair Corr
0.31	NOVA	Sunnova Energy Inter	Pair Corr

Related Correlations Analysis

	CMTFX	JGLTX	ICTEX	PGTIX	HTECX	VITAX	TEFQX
CMTFX		0.93	0.28	0.93	0.53	0.92	0.58	CMTFX
JGLTX	0.93		0.45	0.91	0.73	0.86	0.72	JGLTX
ICTEX	0.28	0.45		0.18	0.74	0.13	0.42	ICTEX
PGTIX	0.93	0.91	0.18		0.53	0.9	0.66	PGTIX
HTECX	0.53	0.73	0.74	0.53		0.4	0.77	HTECX
VITAX	0.92	0.86	0.13	0.9	0.4		0.42	VITAX
TEFQX	0.58	0.72	0.42	0.66	0.77	0.42		TEFQX
	CMTFX	JGLTX	ICTEX	PGTIX	HTECX	VITAX	TEFQX

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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
CMTFX	1.07	0.00	0.00	0.00	1.57	(1.08)	1.96	(2.28)	7.85
JGLTX	0.93	0.00	0.01	0.00	1.32	(0.91)	1.73	(1.87)	6.33
ICTEX	0.85	(0.09)	0.00	(0.12)	0.00	0.00	1.45	(1.95)	6.23
PGTIX	1.06	0.02	0.01	0.02	1.51	(1.12)	2.10	(2.51)	7.76
HTECX	1.04	0.02	0.01	0.02	1.52	(1.00)	1.67	(2.41)	7.23
VITAX	1.06	0.00	0.00	0.00	1.54	(1.01)	2.01	(2.19)	7.45
TEFQX	1.43	0.11	0.06	0.13	1.78	(1.50)	2.92	(2.93)	8.10

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