GS vs IVZ: Correlation
Goldman Sachs (GS) and Invesco (IVZ) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and IVZ?
Across a 3-year window, the weekly returns of GS and IVZ correlate at 0.65, strong. The link has loosened recently: the 1-year correlation (0.50) runs below the 3-year figure (0.65). Stretching to 5 years gives 0.66, with an annualized covariance of 569.8 %².
Within GS's tracked universe of 41 assets, IVZ comes in at #22 by 3-year correlation. The trailing year gives IVZ the advantage: +41.6% versus +55.9%, a 14.3-point spread. Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.75.
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.
GS vs IVZ: side by side
| GS (Goldman Sachs) | IVZ (Invesco) | |
|---|---|---|
| 1-year return | +41.6% | +55.9% |
| 5-year return | +184.1% | +63.7% |
| Volatility (ann.) | 27.0% | 32.6% |
| Beta vs S&P 500 | 1.34 | 1.29 |
| Max drawdown (3Y) | -30.9% | -36.5% |
| Market cap | $303.1B | $14.7B |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 1.63% | 2.58% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | GS | IVZ |
|---|---|---|
| 2022 | -7.9% | -18.7% |
| 2023 | +15.9% | +4.2% |
| 2024 | +52.0% | +3.0% |
| 2025 | +56.6% | +56.9% |
| 2026 | +19.6% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and IVZ good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GS and IVZ?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.50 over the last year and 0.66 over 5 years.
Is IVZ a good diversifier for GS?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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/gs-vs-ivz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gs-vs-ivz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GS correlations · IVZ correlations
