Goldman Sachs Correlations

GMUN Etf

49.32 0.02 0.04%

The current 90-days correlation between Goldman Sachs Community and SSGA Active Trust is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Goldman Sachs moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Goldman Sachs Community moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Goldman Sachs Correlation With Market

Good diversification

The correlation between Goldman Sachs Community and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Community 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 Community. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Goldman Etf

0.92	MUB	iShares National Muni Sell-off Trend	Pair Corr
0.81	VTEB	Vanguard Tax Exempt Sell-off Trend	Pair Corr
0.9	FMB	First Trust Managed	Pair Corr
0.86	ITM	VanEck Intermediate Muni	Pair Corr
0.93	MMIT	IQ MacKay Municipal	Pair Corr
0.98	HMOP	Hartford Municipal	Pair Corr
0.86	TAXF	American Century Div	Pair Corr
0.93	JMUB	JPMorgan Municipal	Pair Corr
0.8	MUST	Columbia Multi Sector	Pair Corr
0.96	MINO	PIMCO ETF Trust	Pair Corr
0.83	FXY	Invesco CurrencyShares	Pair Corr
0.82	PMBS	PIMCO Mortgage Backed	Pair Corr
0.84	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.63	GE	GE Aerospace	Pair Corr
0.76	VZ	Verizon Communications	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.76	PG	Procter Gamble	Pair Corr
0.83	T	ATT Inc Sell-off Trend	Pair Corr
0.78	MCD	McDonalds	Pair Corr

Moving against Goldman Etf

0.63	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.62	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.02	0.58	-0.53	0.3	0.43	0.28	0.9	-0.74	-0.03	META
MSFT	-0.02		-0.62	0.02	-0.8	0.7	0.89	0.13	0.43	-0.55	MSFT
UBER	0.58	-0.62		-0.28	0.81	-0.27	-0.53	0.51	-0.84	0.57	UBER
F	-0.53	0.02	-0.28		0.0	-0.09	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.8	0.81	0.0		-0.59	-0.71	0.16	-0.65	0.6	T
A	0.43	0.7	-0.27	-0.09	-0.59		0.8	0.62	0.11	-0.34	A
CRM	0.28	0.89	-0.53	-0.16	-0.71	0.8		0.36	0.23	-0.61	CRM
JPM	0.9	0.13	0.51	-0.37	0.16	0.62	0.36		-0.63	0.06	JPM
MRK	-0.74	0.43	-0.84	0.51	-0.65	0.11	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.55	0.57	0.36	0.6	-0.34	-0.61	0.06	-0.32		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.81	UBER
CRM	+ 0.8	A
A	+ 0.7	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.74	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Goldman Sachs Competition Risk-Adjusted Indicators

There is a big difference between Goldman Etf performing well and Goldman Sachs ETF 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
META	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	(0.29)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.16	(0.14)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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