Goldman Sachs Correlations

Mutual Funds . USA . 
Fund . Goldman Sachs High
GGMPX Fund  USD 5.68  0.00  0.00%   
The current 90-days correlation between Goldman Sachs High and Vanguard High Yield Corporate 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

Modest diversification

The correlation between Goldman Sachs High and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldman Sachs High 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 High. 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

  0.61GCMDX Goldman Sachs LocalPairCorr
  0.72GCRTX Goldman Sachs AbsolutePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VWEAX  0.10  0.01 (0.52) 0.39  0.00 
(0.23)
 0.37 
(0.18)
 0.74 
VWEHX  0.10  0.01 (0.53) 0.33  0.00 
(0.22)
 0.19 
(0.18)
 0.73 
BHYCX  0.11  0.01 (0.56) 0.27  0.00 
(0.20)
 0.28 
(0.28)
 0.85 
BHYIX  0.12  0.01 (0.48) 0.25  0.00 
(0.21)
 0.28 
(0.28)
 0.85 
BHYSX  0.14  0.01 (0.53) 0.24  0.00 
(0.20)
 0.28 
(0.28)
 0.85 
BHYAX  0.13  0.01 (0.52) 0.25  0.00 
(0.21)
 0.28 
(0.28)
 0.85 
FAHHX  0.13  0.01 (0.62) 0.31  0.00 
(0.20)
 0.31 
(0.20)
 0.92 
FTAHX  0.13  0.01 (0.66) 0.32  0.00 
(0.20)
 0.31 
(0.20)
 0.83 
AHTFX  0.13  0.01 (0.62) 0.31  0.00 
(0.20)
 0.31 
(0.20)
 0.93 
AHTCX  0.13  0.01 (0.64) 0.27  0.00 
(0.19)
 0.31 
(0.20)
 0.83 

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