GJS vs WBTN: Correlation
How closely do Goldman Sachs Group Securities STRATS Trust for Goldman (GJS) and WEBTOON Entertainment Inc. (WBTN) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJS and WBTN?
On 3 years of weekly data the GJS/WBTN correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -115.1 %².
Out of 15 assets tracked against GJS, WBTN lands near the bottom at #14. The last year tells two different stories: GJS led by 40.7 percentage points, +6.3% for GJS against -34.4% for WBTN. Note the risk asymmetry: WBTN runs 11.2 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 WBTN: side by side
| GJS (Goldman Sachs Group Securities STRATS Trust for Goldman) | WBTN (WEBTOON Entertainment Inc.) | |
|---|---|---|
| 1-year return | +6.3% | -34.4% |
| 5-year return | +42.1% | n/a |
| Volatility (ann.) | 7.2% | 80.5% |
| Beta vs S&P 500 | 0.03 | 1.69 |
| Max drawdown (3Y) | -3.9% | -70.6% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJS | WBTN |
|---|---|---|
| 2022 | +0.8% | – |
| 2023 | +11.1% | – |
| 2024 | +10.2% | – |
| 2025 | +8.4% | -4.1% |
| 2026 | +3.8% | -23.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJS and WBTN good diversifiers for each other?
Yes. With a correlation of -0.23, GJS and WBTN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GJS and WBTN?
As of 2026-08-27, the correlation of weekly returns between GJS and WBTN is -0.23 over 3 years, -0.24 over 1 year and n/a over 5 years.
Is WBTN a good diversifier for GJS?
Yes. With a correlation of -0.23, GJS and WBTN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: GJS correlations · WBTN correlations
