GJS vs SRV: Correlation
Goldman Sachs Group Securities STRATS Trust for Goldman (GJS) and NXG Cushing Midstream Energy Fund (SRV) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJS and SRV?
Over the past 3 years, GJS and SRV moved with a correlation of 0.30, which is moderate. Little has changed lately, as the 1-year reading of 0.20 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 54.7 %².
Few assets follow GJS as closely as SRV, which ranks #1 of 15 tracked partners. The last year tells two different stories: SRV led by 19.5 percentage points, +6.3% for GJS against +25.8% for SRV. Note the risk asymmetry: SRV runs 3.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GJS vs SRV: side by side
| GJS (Goldman Sachs Group Securities STRATS Trust for Goldman) | SRV (NXG Cushing Midstream Energy Fund) | |
|---|---|---|
| 1-year return | +6.3% | +25.8% |
| 5-year return | +42.1% | +220.3% |
| Volatility (ann.) | 7.2% | 25.1% |
| Beta vs S&P 500 | 0.03 | 0.46 |
| Max drawdown (3Y) | -3.9% | -26.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 3.1 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJS | SRV |
|---|---|---|
| 2022 | +0.8% | +20.1% |
| 2023 | +11.1% | +16.8% |
| 2024 | +10.2% | +50.7% |
| 2025 | +8.4% | +5.0% |
| 2026 | +3.8% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJS and SRV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GJS and SRV?
As of 2026-08-27, the correlation of weekly returns between GJS and SRV is 0.30 over 3 years, 0.20 over 1 year and 0.26 over 5 years.
Is SRV a good diversifier for GJS?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GJS correlations · SRV correlations
