GS vs SCHW: Correlation
Measured on weekly returns over the past three years, Goldman Sachs (GS) and Charles Schwab Corporation (SCHW) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GS and SCHW?
Across a 3-year window, the weekly returns of GS and SCHW correlate at 0.55, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.55). Stretching to 5 years gives 0.59, with an annualized covariance of 414.6 %².
Within GS's tracked universe of 41 assets, SCHW comes in at #26 by 3-year correlation. The last year tells two different stories: GS led by 28.6 percentage points, +41.6% for GS against +13.0% for SCHW. On a rolling one-year basis the correlation drifted between 0.30 and 0.79, a moderate band.
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 SCHW: side by side
| GS (Goldman Sachs) | SCHW (Charles Schwab Corporation) | |
|---|---|---|
| 1-year return | +41.6% | +13.0% |
| 5-year return | +184.1% | +57.3% |
| Volatility (ann.) | 27.0% | 27.8% |
| Beta vs S&P 500 | 1.34 | 0.93 |
| Max drawdown (3Y) | -30.9% | -21.4% |
| Market cap | $303.1B | $186.9B |
| P/E (trailing) | 16.1 | 19.9 |
| Dividend yield | 1.63% | 1.08% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | GS | SCHW |
|---|---|---|
| 2022 | -7.9% | +0.1% |
| 2023 | +15.9% | -16.0% |
| 2024 | +52.0% | +9.2% |
| 2025 | +56.6% | +36.6% |
| 2026 | +19.6% | +9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GS and SCHW good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GS and SCHW?
The GS/SCHW correlation stands at 0.55 on a 3-year window (1 year: 0.29, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is SCHW a good diversifier for GS?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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-schw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gs-vs-schw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GS correlations · SCHW correlations
