CFG vs GS: Correlation
How closely do Citizens Financial Group (CFG) and Goldman Sachs (GS) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and GS?
Across a 3-year window, the weekly returns of CFG and GS correlate at 0.75, strong. The past 12 months show a weaker link (0.44) than the 3-year average (0.75). Stretching to 5 years gives 0.72, with an annualized covariance of 622.8 %².
By 3-year correlation, GS places #20 of the 46 assets tracked against CFG. Their 12-month results are close: +39.3% for CFG against +41.6% for GS. Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.92.
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.
CFG vs GS: side by side
| CFG (Citizens Financial Group) | GS (Goldman Sachs) | |
|---|---|---|
| 1-year return | +39.3% | +41.6% |
| 5-year return | +98.3% | +184.1% |
| Volatility (ann.) | 31.0% | 27.0% |
| Beta vs S&P 500 | 1.16 | 1.34 |
| Max drawdown (3Y) | -29.1% | -30.9% |
| Market cap | $29.6B | $303.1B |
| P/E (trailing) | 15.4 | 16.1 |
| Dividend yield | 2.55% | 1.63% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CFG | GS |
|---|---|---|
| 2022 | -13.4% | -7.9% |
| 2023 | -11.0% | +15.9% |
| 2024 | +38.0% | +52.0% |
| 2025 | +38.6% | +56.6% |
| 2026 | +22.7% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and GS good diversifiers for each other?
Only partially. A correlation of 0.75 means CFG and GS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CFG and GS?
As of 2026-08-27, the correlation of weekly returns between CFG and GS is 0.75 over 3 years, 0.44 over 1 year and 0.72 over 5 years.
Is GS a good diversifier for CFG?
Only partially. A correlation of 0.75 means CFG and GS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cfg-vs-gs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-gs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CFG correlations · GS correlations
