Goldman Sachs Correlations

GUSA Etf

USD 51.21 0.07 0.14%

The current 90-days correlation between Goldman Sachs MarketBeta and Goldman Sachs ETF is 0.47 (i.e., Very weak 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.

Goldman Sachs Correlation With Market

Average diversification

The correlation between Goldman Sachs MarketBeta and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs MarketBeta 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 MarketBeta. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Goldman Etf

1.0	VTI	Vanguard Total Stock	Pair Corr
1.0	SPY	SPDR SP 500	Pair Corr
1.0	IVV	iShares Core SP	Pair Corr
0.71	VIG	Vanguard Dividend	Pair Corr
1.0	VV	Vanguard Large Cap	Pair Corr
0.62	RSP	Invesco SP 500	Pair Corr
1.0	IWB	iShares Russell 1000	Pair Corr
1.0	ESGU	iShares ESG Aware	Pair Corr
0.92	DFAC	Dimensional Core Equity	Pair Corr
1.0	SPLG	SPDR Portfolio SP	Pair Corr
0.86	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.76	FNGU	MicroSectors FANG Index	Pair Corr
0.75	FNGO	MicroSectors FANG Index	Pair Corr
0.75	FNGS	MicroSectors FANG ETN	Pair Corr
0.84	TECL	Direxion Daily Technology Sell-off Trend	Pair Corr
0.89	QLD	ProShares Ultra QQQ	Pair Corr
0.88	BAC	Bank of America Earnings Call This Week	Pair Corr
0.88	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.84	DIS	Walt Disney	Pair Corr
0.81	T	ATT Inc Sell-off Trend	Pair Corr
0.71	MSFT	Microsoft	Pair Corr
0.87	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Moving against Goldman Etf

0.32	URNM	Sprott Uranium Miners	Pair Corr
0.77	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.65	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.63	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.34	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	GEMD	GSUS	GSSC	GSID	GSEW
GEMD		-0.07	0.23	0.86	0.31	GEMD
GSUS	-0.07		0.8	-0.43	0.78	GSUS
GSSC	0.23	0.8		-0.2	0.97	GSSC
GSID	0.86	-0.43	-0.2		-0.12	GSID
GSEW	0.31	0.78	0.97	-0.12		GSEW
	GEMD	GSUS	GSSC	GSID	GSEW

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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

GSEW	+ 0.97	GSSC
GSID	+ 0.86	GEMD
GSSC	+ 0.8	GSUS
GSEW	+ 0.78	GSUS
GSEW	+ 0.31	GEMD
GSSC	+ 0.23	GEMD

High negative correlations

GSID	- 0.43	GSUS
GSID	- 0.2	GSSC
GSEW	- 0.12	GSID
GSUS	- 0.07	GEMD

Goldman Sachs Constituents 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
GEMD	0.30	(0.06)	0.00	(1.16)	0.00	0.00	0.60	(0.62)	2.35
GSUS	0.58	0.05	0.03	0.26	0.83	(0.59)	1.11	(1.17)	5.59
GSSC	0.87	0.01	0.00	0.05	1.17	(0.93)	1.86	(1.52)	11.13
GSID	0.54	(0.11)	0.00	(1.18)	0.00	0.00	0.90	(1.36)	3.89
GSEW	0.57	0.01	(0.01)	0.04	0.73	(0.62)	1.32	(0.82)	5.96

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