GS vs. MS
GS (The Goldman Sachs Group, Inc.) and MS (Morgan Stanley) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 10 years, GS returned 24.48%/yr vs 27.71%/yr for MS. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
GS vs. MS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GS having a 22.08% return and MS slightly lower at 21.88%. Over the past 10 years, GS has underperformed MS with an annualized return of 24.48%, while MS has yielded a comparatively higher 27.71% annualized return.
GS
- 1D
- 2.62%
- 1M
- 12.54%
- YTD
- 22.08%
- 6M
- 20.84%
- 1Y
- 76.70%
- 3Y*
- 49.31%
- 5Y*
- 25.98%
- 10Y*
- 24.48%
MS
- 1D
- 0.65%
- 1M
- 11.18%
- YTD
- 21.88%
- 6M
- 21.28%
- 1Y
- 69.28%
- 3Y*
- 38.69%
- 5Y*
- 22.26%
- 10Y*
- 27.71%
GS vs. MS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GS The Goldman Sachs Group, Inc. | 22.08% | 56.64% | 52.03% | 15.91% | -7.87% | 47.61% | 17.45% | 40.48% | -33.53% | 7.73% |
MS Morgan Stanley | 21.88% | 45.16% | 39.73% | 13.93% | -10.34% | 46.65% | 38.09% | 32.67% | -22.76% | 26.61% |
Correlation
The correlation between GS and MS is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 4, 1999 | 0.80 |
The correlation between GS and MS has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
Fundamentals
GS:
$327.33B
MS:
$340.97B
GS:
$57.41
MS:
$11.41
GS:
18.51
MS:
18.75
GS:
2.40
MS:
1.76
GS:
3.02
MS:
2.84
GS:
2.66
MS:
3.26
GS:
$110.77B
MS:
$120.22B
GS:
$61.53B
MS:
$69.72B
GS:
$24.94B
MS:
$27.21B
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Return for Risk
GS vs. MS — Risk / Return Rank
GS
MS
GS vs. MS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Goldman Sachs Group, Inc. (GS) and Morgan Stanley (MS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GS | MS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.43 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 3.53 | +0.27 |
| Martin ratioReturn relative to average drawdown | 12.61 | 11.65 | +0.96 |
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Drawdowns
GS vs. MS - Drawdown Comparison
The maximum GS drawdown since its inception was -78.84%, smaller than the maximum MS drawdown of -88.12%. Use the drawdown chart below to compare losses from any high point for GS and MS.
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Drawdown Indicators
| GS | MS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.84% | -88.12% | +9.28% |
Max Drawdown (1Y)Largest decline over 1 year | -19.42% | -18.83% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -30.90% | -29.24% | -1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -32.84% | -32.38% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -48.75% | -51.33% | +2.58% |
Current DrawdownCurrent decline from peak | -2.73% | -1.94% | -0.79% |
Average DrawdownAverage peak-to-trough decline | -22.65% | -33.69% | +11.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.84% | 5.70% | +0.14% |
Volatility
GS vs. MS - Volatility Comparison
The Goldman Sachs Group, Inc. (GS) has a higher volatility of 11.84% compared to Morgan Stanley (MS) at 8.62%. This indicates that GS's price experiences larger fluctuations and is considered to be riskier than MS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GS | MS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.84% | 8.62% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 23.47% | 21.46% | +2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.55% | 25.81% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.10% | 28.75% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.87% | 31.51% | -1.64% |
Dividends
GS vs. MS - Dividend Comparison
GS's dividend yield for the trailing twelve months is around 1.60%, less than MS's 1.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GS The Goldman Sachs Group, Inc. | 1.60% | 1.59% | 2.01% | 2.72% | 2.62% | 1.70% | 1.90% | 1.80% | 1.89% | 1.14% | 1.09% | 1.41% |
MS Morgan Stanley | 1.87% | 2.17% | 2.82% | 3.49% | 3.47% | 2.14% | 2.04% | 2.54% | 2.77% | 1.72% | 1.66% | 1.73% |
Financials
GS vs. MS - Financials Comparison
This section allows you to compare key financial metrics between The Goldman Sachs Group, Inc. and Morgan Stanley. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
GS vs. MS - Profitability Comparison
GS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Goldman Sachs Group, Inc. reported a gross profit of 16.91B and revenue of 17.23B. Therefore, the gross margin over that period was 98.2%.
MS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Morgan Stanley reported a gross profit of 20.48B and revenue of 33.15B. Therefore, the gross margin over that period was 61.8%.
GS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Goldman Sachs Group, Inc. reported an operating income of 6.49B and revenue of 17.23B, resulting in an operating margin of 37.7%.
MS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Morgan Stanley reported an operating income of 7.01B and revenue of 33.15B, resulting in an operating margin of 21.2%.
GS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Goldman Sachs Group, Inc. reported a net income of 5.63B and revenue of 17.23B, resulting in a net margin of 32.7%.
MS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Morgan Stanley reported a net income of 5.64B and revenue of 33.15B, resulting in a net margin of 17.0%.
Frequently Asked Questions
GS and MS have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GS has higher volatility (11.84%) compared to MS (8.62%). In terms of maximum drawdown, GS dropped -78.84% vs MS's -88.12%.
GS currently has the higher Sharpe Ratio (2.59 vs 2.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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