GS vs JEF: Correlation
Measured on weekly returns over the past three years, Goldman Sachs (GS) and Jefferies Financial Group Inc. (JEF) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and JEF?
Across a 3-year window, the weekly returns of GS and JEF correlate at 0.73, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.73 over 3. Stretching to 5 years gives 0.76, with an annualized covariance of 778.7 %².
Among the 41 assets we track against GS, JEF ranks #16 by 3-year correlation. The last year tells two different stories: GS led by 57.5 percentage points, +41.6% for GS against -15.9% for JEF.
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 JEF: side by side
| GS (Goldman Sachs) | JEF (Jefferies Financial Group Inc.) | |
|---|---|---|
| 1-year return | +41.6% | -15.9% |
| 5-year return | +184.1% | +73.8% |
| Volatility (ann.) | 27.0% | 39.3% |
| Beta vs S&P 500 | 1.34 | 1.57 |
| Max drawdown (3Y) | -30.9% | -54.4% |
| Market cap | $303.1B | $10.7B |
| P/E (trailing) | 16.1 | 14.8 |
| Dividend yield | 1.63% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GS | JEF |
|---|---|---|
| 2022 | -7.9% | -8.5% |
| 2023 | +15.9% | +27.7% |
| 2024 | +52.0% | +98.8% |
| 2025 | +56.6% | -18.8% |
| 2026 | +19.6% | -12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and JEF good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GS and JEF?
The GS/JEF correlation stands at 0.73 on a 3-year window (1 year: 0.72, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is JEF a good diversifier for GS?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
A reading of 0.73 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: GS correlations · JEF correlations
