ADAG vs GS: Correlation
Measured on weekly returns over the past three years, Adagene Inc. (ADAG) and Goldman Sachs (GS) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADAG and GS?
Over the past 3 years, ADAG and GS moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -425.5 %².
Among the 15 assets we track against ADAG, GS sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months ADAG outperformed by 36.5 percentage points (+78.1% for ADAG against +41.6% for GS). Risk is not evenly split, since ADAG carries 3.4 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ADAG vs GS: side by side
| ADAG (Adagene Inc.) | GS (Goldman Sachs) | |
|---|---|---|
| 1-year return | +78.1% | +41.6% |
| 5-year return | -76.8% | +184.1% |
| Volatility (ann.) | 93.1% | 27.0% |
| Beta vs S&P 500 | 0.48 | 1.34 |
| Max drawdown (3Y) | -66.5% | -30.9% |
| Market cap | $0.3B | $303.1B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ADAG | GS |
|---|---|---|
| 2022 | -83.6% | -7.9% |
| 2023 | +45.7% | +15.9% |
| 2024 | +3.1% | +52.0% |
| 2025 | -5.0% | +56.6% |
| 2026 | +106.3% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADAG and GS good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADAG and GS?
As of 2026-08-27, the correlation of weekly returns between ADAG and GS is -0.17 over 3 years, -0.20 over 1 year and -0.05 over 5 years.
Is GS a good diversifier for ADAG?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adag-vs-gs.json
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[](https://www.pairbook.io/pair/adag-vs-gs/)
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Related comparisons
Hubs: ADAG correlations · GS correlations
