Goldman Sachs Correlations

Mutual Funds . USA . 
Fund . Goldman Sachs Smallmid
GSMAX Fund  USD 22.04  0.11  0.50%   
The current 90-days correlation between Goldman Sachs Smallmid and Vanguard Financials Index is 0.74 (i.e., Poor 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

Weak diversification

The correlation between Goldman Sachs Smallmid and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Smallmid 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 Smallmid. 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

  0.79GCGIX Goldman Sachs LargePairCorr
  0.74GCGVX Goldman Sachs DynamicPairCorr
  0.61GCFIX Goldman Sachs EPairCorr
  0.63GCFUX Goldman Sachs EPairCorr
  0.77GCMRX Goldman Sachs MidPairCorr
  0.78GCMTX Goldman Sachs MidPairCorr
  0.79GCMUX Goldman Sachs MidPairCorr
  0.92GCLLX Goldman Sachs FlexiblePairCorr
  0.66GCLSX Goldman Sachs LargePairCorr
  0.78GCMAX Goldman Sachs MidPairCorr
  0.74GCMCX Goldman Sachs MidPairCorr
  0.82GCRTX Goldman Sachs AbsolutePairCorr
  0.86GCTAX Goldman Sachs TaxPairCorr
  0.88GCTCX Goldman Sachs TaxPairCorr
  0.85GCTIX Goldman Sachs TaxPairCorr
  0.86GCTRX Goldman Sachs TaxPairCorr
  0.87GCTSX Goldman Sachs TaxPairCorr
  0.79GCSAX Goldman Sachs SmallPairCorr
  0.74GCSCX Goldman Sachs SmallPairCorr
  0.8GCSIX Goldman Sachs SmallPairCorr
  0.79GCSSX Goldman Sachs SmallPairCorr

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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