GS vs LICN: Correlation
Measured on weekly returns over the past three years, Goldman Sachs (GS) and Lichen International Limited - Class A (LICN) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and LICN?
Over the past 3 years, GS and LICN moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.03) runs above the 3-year figure (-0.23). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -53445.2 %².
Among the 41 assets we track against GS, LICN sits near the bottom by co-movement, at rank #38. Correlation aside, the last 12 months split them widely, with GS ahead by 116.3 points (+41.6% versus -74.7%). Risk is not evenly split, since LICN carries 315.9 times the volatility of the other side.
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 LICN: side by side
| GS (Goldman Sachs) | LICN (Lichen International Limited - Class A) | |
|---|---|---|
| 1-year return | +41.6% | -74.7% |
| 5-year return | +184.1% | n/a |
| Volatility (ann.) | 27.0% | 8528.0% |
| Beta vs S&P 500 | 1.34 | -80.22 |
| Max drawdown (3Y) | -30.9% | -98.4% |
| Market cap | $303.1B | – |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 1.63% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GS | LICN |
|---|---|---|
| 2022 | -7.9% | – |
| 2023 | +15.9% | – |
| 2024 | +52.0% | -91.0% |
| 2025 | +56.6% | +1484.3% |
| 2026 | +19.6% | -56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and LICN good diversifiers for each other?
Yes. With a correlation of -0.23, GS and LICN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GS and LICN?
As of 2026-08-27, the correlation of weekly returns between GS and LICN is -0.23 over 3 years, 0.03 over 1 year and n/a over 5 years.
Is LICN a good diversifier for GS?
Yes. With a correlation of -0.23, GS and LICN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-licn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gs-vs-licn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GS correlations · LICN correlations
