GS vs JPM: Correlation
How closely do Goldman Sachs (GS) and JPMorgan Chase (JPM) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and JPM?
Over the past 3 years, GS and JPM moved with a correlation of 0.77, which is strong. The link has loosened recently: the 1-year correlation (0.56) runs below the 3-year figure (0.77). Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 483.4 %².
Among the 41 assets we track against GS, JPM ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GS ahead by 21.0 points (+41.6% versus +20.6%). The rolling one-year correlation moved between 0.57 and 0.88 over the past three years, a moderate range.
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 JPM: side by side
| GS (Goldman Sachs) | JPM (JPMorgan Chase) | |
|---|---|---|
| 1-year return | +41.6% | +20.6% |
| 5-year return | +184.1% | +150.2% |
| Volatility (ann.) | 27.0% | 23.2% |
| Beta vs S&P 500 | 1.34 | 1.01 |
| Max drawdown (3Y) | -30.9% | -24.4% |
| Market cap | $303.1B | $941.6B |
| P/E (trailing) | 16.1 | 15.2 |
| Dividend yield | 1.63% | 1.68% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | GS | JPM |
|---|---|---|
| 2022 | -7.9% | -12.6% |
| 2023 | +15.9% | +30.6% |
| 2024 | +52.0% | +44.3% |
| 2025 | +56.6% | +37.3% |
| 2026 | +19.6% | +11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and JPM good diversifiers for each other?
Only partially. A correlation of 0.77 means GS and JPM 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 GS and JPM?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.56 over the last year and 0.78 over 5 years.
Is JPM a good diversifier for GS?
Only partially. A correlation of 0.77 means GS and JPM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 mean?
A reading of 0.77 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/gs-vs-jpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gs-vs-jpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GS correlations · JPM correlations
