Goldman Sachs Correlations

GSBD Stock

USD 13.07 0.01 0.08%

The current 90-days correlation between Goldman Sachs BDC and Carlyle Secured Lending is 0.54 (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

Very weak diversification

The correlation between Goldman Sachs BDC and DJI is 0.48 (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 BDC 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 BDC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Goldman Stock

0.67	EARN	Ellington Residential	Pair Corr
0.7	BRKHU	BurTech Acquisition Corp	Pair Corr

Moving against Goldman Stock

0.81	DIST	Distoken Acquisition	Pair Corr
0.8	V	Visa Class A	Pair Corr
0.68	MA	Mastercard	Pair Corr
0.64	DYCQ	DT Cloud Acquisition	Pair Corr
0.6	TETEU	Technology Telecommunicatio	Pair Corr
0.8	EMCG	Embrace Change Acqui	Pair Corr
0.79	ESHA	ESH Acquisition Corp	Pair Corr
0.67	WAVSU	Western Acquisition	Pair Corr
0.63	ANSCW	Agriculture Natural	Pair Corr
0.63	WTMA	Welsbach Technology	Pair Corr
0.62	FDUS	Fidus Investment Corp	Pair Corr
0.56	EVGR	Evergreen Corp	Pair Corr
0.54	ROCLW	Roth CH Acquisition	Pair Corr
0.52	DISTR	Distoken Acquisition	Pair Corr
0.37	WAVS	Western Acquisition	Pair Corr
0.82	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.81	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	CGBD	TSLX	GBDC	FDUS	NMFC	TCPC	TPVG	HTGC	TRIN
CGBD		0.31	0.44	-0.08	0.08	-0.38	-0.38	0.74	0.19	CGBD
TSLX	0.31		0.13	0.37	0.6	0.51	0.3	-0.17	0.26	TSLX
GBDC	0.44	0.13		0.59	-0.39	0.23	0.33	0.56	0.77	GBDC
FDUS	-0.08	0.37	0.59		0.04	0.8	0.9	-0.15	0.84	FDUS
NMFC	0.08	0.6	-0.39	0.04		0.28	0.15	-0.19	-0.08	NMFC
TCPC	-0.38	0.51	0.23	0.8	0.28		0.89	-0.5	0.55	TCPC
TPVG	-0.38	0.3	0.33	0.9	0.15	0.89		-0.38	0.68	TPVG
HTGC	0.74	-0.17	0.56	-0.15	-0.19	-0.5	-0.38		0.22	HTGC
TRIN	0.19	0.26	0.77	0.84	-0.08	0.55	0.68	0.22		TRIN
	CGBD	TSLX	GBDC	FDUS	NMFC	TCPC	TPVG	HTGC	TRIN

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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

TPVG	+ 0.9	FDUS
TPVG	+ 0.89	TCPC
TRIN	+ 0.84	FDUS
TCPC	+ 0.8	FDUS
TRIN	+ 0.77	GBDC
HTGC	+ 0.74	CGBD

High negative correlations

HTGC	- 0.5	TCPC
NMFC	- 0.39	GBDC
HTGC	- 0.38	TPVG
TPVG	- 0.38	CGBD
TCPC	- 0.38	CGBD
HTGC	- 0.19	NMFC

Risk-Adjusted Indicators

There is a big difference between Goldman Stock performing well and Goldman Sachs Company 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
CGBD	0.81	0.06	(0.04)	0.43	0.97	(0.84)	1.50	(1.47)	4.68
TSLX	0.61	0.02	(0.09)	0.20	0.67	(0.68)	1.19	(1.04)	3.63
GBDC	0.62	0.04	(0.03)	0.20	0.63	(0.71)	1.48	(1.27)	4.61
FDUS	0.54	0.08	0.00	0.38	0.43	(0.60)	1.20	(0.92)	3.15
NMFC	0.63	(0.05)	(0.13)	(0.01)	0.89	(0.65)	1.93	(1.11)	4.41
TCPC	1.11	(0.02)	0.00	0.11	1.13	(1.29)	2.08	(2.04)	11.22
TPVG	1.20	0.15	0.08	0.30	1.21	(1.39)	3.33	(2.20)	11.85
HTGC	0.80	(0.05)	(0.09)	0.06	0.90	(0.90)	1.56	(1.54)	5.01
TRIN	0.77	0.06	0.00	0.26	0.88	(0.83)	1.98	(1.55)	5.89

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