GS vs PIPR: Correlation
Measured on weekly returns over the past three years, Goldman Sachs (GS) and Piper Sandler Companies (PIPR) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and PIPR?
Across a 3-year window, the weekly returns of GS and PIPR correlate at 0.76, strong. The link has loosened recently: the 1-year correlation (0.65) runs below the 3-year figure (0.76). Stretching to 5 years gives 0.70, with an annualized covariance of 684.0 %².
By 3-year correlation, PIPR places #9 of the 41 assets tracked against GS. The last year tells two different stories: GS led by 50.8 percentage points, +41.6% for GS against -9.2% for PIPR.
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 PIPR: side by side
| GS (Goldman Sachs) | PIPR (Piper Sandler Companies) | |
|---|---|---|
| 1-year return | +41.6% | -9.2% |
| 5-year return | +184.1% | +143.0% |
| Volatility (ann.) | 27.0% | 33.6% |
| Beta vs S&P 500 | 1.34 | 1.35 |
| Max drawdown (3Y) | -30.9% | -38.8% |
| Market cap | $303.1B | $5.3B |
| P/E (trailing) | 16.1 | 17.3 |
| Dividend yield | 1.63% | 0.97% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GS | PIPR |
|---|---|---|
| 2022 | -7.9% | -23.4% |
| 2023 | +15.9% | +37.8% |
| 2024 | +52.0% | +74.2% |
| 2025 | +56.6% | +15.5% |
| 2026 | +19.6% | -10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and PIPR good diversifiers for each other?
Only partially. A correlation of 0.76 means GS and PIPR 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 PIPR?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.65 over the last year and 0.70 over 5 years.
Is PIPR a good diversifier for GS?
Only partially. A correlation of 0.76 means GS and PIPR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
A reading of 0.76 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-pipr.json
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Related comparisons
Hubs: GS correlations · PIPR correlations
