Goldman Sachs Correlations

Mutual Funds . USA . 
Fund . Goldman Sachs Equity
GSPQX Fund  USD 16.45  0.01  0.06%   
The current 90-days correlation between Goldman Sachs Equity and Alpine Ultra Short is 0.07 (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

Poor diversification

The correlation between Goldman Sachs Equity and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs Equity 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 Equity. 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 producer price index.

Moving together with Goldman Mutual Fund

  0.91GCGIX Goldman Sachs LargePairCorr
  0.98GCGVX Goldman Sachs DynamicPairCorr
  0.93GCMRX Goldman Sachs MidPairCorr
  0.93GCMTX Goldman Sachs MidPairCorr
  0.93GCMUX Goldman Sachs MidPairCorr
  0.97GCLLX Goldman Sachs FlexiblePairCorr
  0.86GCLSX Goldman Sachs LargePairCorr
  0.93GCMAX Goldman Sachs MidPairCorr
  0.93GCMCX Goldman Sachs MidPairCorr
  0.98GCTAX Goldman Sachs TaxPairCorr
  0.98GCTCX Goldman Sachs TaxPairCorr
  0.98GCTIX Goldman Sachs TaxPairCorr
  0.98GCTRX Goldman Sachs TaxPairCorr
  0.98GCTSX Goldman Sachs TaxPairCorr
  0.91GCSAX Goldman Sachs SmallPairCorr
  0.91GCSCX Goldman Sachs SmallPairCorr
  0.91GCSIX Goldman Sachs SmallPairCorr

Moving against Goldman Mutual Fund

  0.69GCEBX Goldman Sachs CleanPairCorr
  0.69GCEDX Goldman Sachs CleanPairCorr
  0.69GCEEX Goldman Sachs CleanPairCorr
  0.69GCEJX Goldman Sachs CleanPairCorr
  0.69GCEPX Goldman Sachs CleanPairCorr
  0.68GCEGX Goldman Sachs CleanPairCorr
  0.44GCFIX Goldman Sachs EPairCorr
  0.44GCFUX Goldman Sachs EPairCorr
  0.42GCFCX Goldman Sachs EPairCorr
  0.39GCICX Goldman Sachs InternPairCorr
  0.39GCIIX Goldman Sachs InternPairCorr
  0.39GCIRX Goldman Sachs InternPairCorr
  0.43GCMDX Goldman Sachs LocalPairCorr
  0.39GCISX Goldman Sachs InternPairCorr
  0.39GCITX Goldman Sachs InternPairCorr
  0.39GCIUX Goldman Sachs InternPairCorr
  0.39GCIAX Goldman Sachs InternPairCorr
  0.44GDFRX Goldman Sachs EPairCorr
  0.38GCTMX Goldman Sachs InternPairCorr
  0.38GDFIX Goldman Sachs ShortPairCorr

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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