Goldman Sachs Correlations

GEMD Etf

USD 42.39 0.16 0.38%

The current 90-days correlation between Goldman Sachs ETF and Goldman Sachs ActiveBeta is 0.37 (i.e., 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

Very weak diversification

The correlation between Goldman Sachs ETF and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs ETF 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 ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Goldman Etf

1.0	EMB	iShares JP Morgan Symbol Change	Pair Corr
0.99	PCY	Invesco Emerging Markets	Pair Corr
0.97	HYEM	VanEck Emerging Markets	Pair Corr
0.99	EMHY	iShares JP Morgan	Pair Corr
0.99	CEMB	iShares JP Morgan	Pair Corr
1.0	EMHC	SPDR Bloomberg Barclays	Pair Corr
1.0	EMBD	Global X Emerging	Pair Corr
0.98	EMTL	SPDR DoubleLine Emerging	Pair Corr
1.0	JPMB	JPMorgan USD Emerging	Pair Corr
0.74	FBGX	UBS	Pair Corr
0.63	VB	Vanguard Small Cap	Pair Corr
0.95	ASEA	Global X FTSE	Pair Corr
0.96	SGOV	iShares 0 3	Pair Corr
0.97	BSJP	Invesco BulletShares 2025	Pair Corr
0.69	HELO	JP Morgan Exchange	Pair Corr
0.81	FIDU	Fidelity MSCI Industrials	Pair Corr
0.96	OBIL	US Treasury 12	Pair Corr
0.69	VBR	Vanguard Small Cap	Pair Corr
0.87	KONG	Formidable Fortress ETF	Pair Corr
0.96	NEAR	iShares Short Maturity	Pair Corr
0.96	SCHY	Schwab International	Pair Corr
0.86	SCHD	Schwab Dividend Equity	Pair Corr
0.86	RIET	Hoya Capital High	Pair Corr
0.97	USFR	WisdomTree Floating Rate	Pair Corr

Moving against Goldman Etf

0.56	SOXX	iShares Semiconductor ETF	Pair Corr
0.53	SMH	VanEck Semiconductor ETF	Pair Corr
0.52	USD	ProShares Ultra Semi	Pair Corr
0.52	TECL	Direxion Daily Technology	Pair Corr
0.41	ROM	ProShares Ultra Tech	Pair Corr
0.58	PSI	Invesco Dynamic Semi	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.11	0.72	-0.25	0.44	0.17	0.42	0.14	-0.25	-0.02	META
MSFT	0.11		0.3	0.77	-0.41	-0.72	0.14	-0.31	0.82	-0.47	MSFT
UBER	0.72	0.3		0.17	0.24	0.05	0.43	0.33	0.1	-0.02	UBER
F	-0.25	0.77	0.17		-0.47	-0.63	0.02	-0.02	0.76	-0.25	F
T	0.44	-0.41	0.24	-0.47		0.57	0.14	0.32	-0.56	0.02	T
A	0.17	-0.72	0.05	-0.63	0.57		0.24	0.51	-0.68	0.53	A
CRM	0.42	0.14	0.43	0.02	0.14	0.24		0.53	-0.17	0.41	CRM
JPM	0.14	-0.31	0.33	-0.02	0.32	0.51	0.53		-0.36	0.5	JPM
MRK	-0.25	0.82	0.1	0.76	-0.56	-0.68	-0.17	-0.36		-0.43	MRK
XOM	-0.02	-0.47	-0.02	-0.25	0.02	0.53	0.41	0.5	-0.43		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

MRK	+ 0.82	MSFT
F	+ 0.77	MSFT
MRK	+ 0.76	F
UBER	+ 0.72	META
A	+ 0.57	T
XOM	+ 0.53	A

High negative correlations

A	- 0.72	MSFT
MRK	- 0.68	A
A	- 0.63	F
MRK	- 0.56	T
T	- 0.47	F
XOM	- 0.47	MSFT

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	1.57	0.11	0.04	0.24	2.00	(1.56)	3.93	(3.21)	11.55
MSFT	1.01	(0.14)	0.00	(0.05)	0.00	0.00	1.83	(2.45)	5.77
UBER	1.82	0.00	0.01	0.10	2.15	(2.12)	5.29	(3.33)	13.81
F	1.68	(0.23)	0.00	(0.05)	0.00	0.00	3.21	(3.24)	22.50
T	0.95	0.29	0.14	(7.36)	0.98	(1.08)	2.53	(2.20)	7.97
A	1.04	(0.02)	(0.02)	0.08	1.32	(1.01)	2.69	(2.08)	6.98
CRM	1.28	0.01	0.03	0.12	1.35	(1.39)	2.93	(2.21)	7.58
JPM	1.09	(0.02)	0.00	0.09	1.67	(0.98)	2.05	(2.38)	7.98
MRK	1.10	(0.15)	0.00	3.37	0.00	0.00	2.01	(2.09)	13.12
XOM	1.06	0.02	(0.01)	0.13	1.28	(1.09)	2.10	(2.09)	6.61

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