Goldman Sachs Correlations

GSJPX Fund

USD 36.45 0.17 0.47%

The current 90-days correlation between Goldman Sachs Technology and Alliancebernstein Global High is 0.01 (i.e., Significant 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 -0.01 (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 american community survey.

Moving together with Goldman Mutual Fund

0.65	VVPR	VivoPower International	Pair Corr
0.65	WEBB	Web Global Holdings	Pair Corr
0.64	EXOD	Exodus Movement,	Pair Corr
0.82	CETXP	Cemtrex Pref	Pair Corr
0.68	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.61	LTCH	Latch Inc	Pair Corr

Moving against Goldman Mutual Fund

0.84	EVOL	Evolving Systems	Pair Corr
0.81	DLPX	Delphax Technologies	Pair Corr
0.81	FOXX	Foxx Development Holdings Trending	Pair Corr
0.68	VEEA	Veea Inc Symbol Change	Pair Corr
0.61	VHAI	VHAI	Pair Corr
0.51	SBIGW	SpringBig Holdings	Pair Corr
0.4	DZSI	DZS Inc	Pair Corr
0.77	GETR	Getaround	Pair Corr
0.67	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.65	ZPTAW	Zapata Computing Holdings	Pair Corr
0.58	WCT	Wellchange Holdings Tech Boost	Pair Corr
0.32	MARK	Remark Holdings	Pair Corr

Related Correlations Analysis

	CNGLX	DHGAX	SGMAX	AGAZX	CABIX	AWF	APDPX
CNGLX		0.66	0.91	0.72	0.77	0.62	-0.32	CNGLX
DHGAX	0.66		0.59	0.38	0.39	0.44	-0.44	DHGAX
SGMAX	0.91	0.59		0.81	0.82	0.52	-0.32	SGMAX
AGAZX	0.72	0.38	0.81		0.91	0.59	-0.51	AGAZX
CABIX	0.77	0.39	0.82	0.91		0.61	-0.45	CABIX
AWF	0.62	0.44	0.52	0.59	0.61		-0.69	AWF
APDPX	-0.32	-0.44	-0.32	-0.51	-0.45	-0.69		APDPX
	CNGLX	DHGAX	SGMAX	AGAZX	CABIX	AWF	APDPX

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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

SGMAX	+ 0.91	CNGLX
CABIX	+ 0.91	AGAZX
CABIX	+ 0.82	SGMAX
AGAZX	+ 0.81	SGMAX
CABIX	+ 0.77	CNGLX
AGAZX	+ 0.72	CNGLX

High negative correlations

APDPX	- 0.69	AWF
APDPX	- 0.51	AGAZX
APDPX	- 0.45	CABIX
APDPX	- 0.44	DHGAX
APDPX	- 0.32	SGMAX
APDPX	- 0.32	CNGLX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CNGLX	0.56	(0.12)	0.00	(0.38)	0.00	0.98	(1.18)	5.09
DHGAX	0.19	(0.07)	0.00	(2.08)	0.00	0.30	(0.39)	3.08
SGMAX	0.54	(0.21)	0.00	1.99	0.00	0.63	(0.64)	10.45
AGAZX	0.34	(0.11)	0.00	(0.72)	0.00	0.54	(0.86)	3.66
CABIX	0.59	(0.27)	0.00	(1.53)	0.00	0.56	(0.73)	15.70
AWF	0.36	(0.05)	0.00	(0.26)	0.00	0.65	(0.82)	1.86
APDPX	0.11	0.03	0.08	(4.49)	(0.15)	0.20	(0.29)	0.59

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