PIPR vs. GS
PIPR (Piper Sandler Companies) and GS (The Goldman Sachs Group, Inc.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 10 years, PIPR returned 27.61%/yr vs 25.22%/yr for GS. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
PIPR vs. GS - Performance Comparison
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Returns By Period
In the year-to-date period, PIPR achieves a -3.70% return, which is significantly lower than GS's 25.72% return. Over the past 10 years, PIPR has outperformed GS with an annualized return of 27.61%, while GS has yielded a comparatively lower 25.22% annualized return.
PIPR
- 1D
- -2.10%
- 1M
- -0.53%
- YTD
- -3.70%
- 6M
- -6.41%
- 1Y
- 25.14%
- 3Y*
- 37.99%
- 5Y*
- 23.16%
- 10Y*
- 27.61%
GS
- 1D
- -1.08%
- 1M
- 10.29%
- YTD
- 25.72%
- 6M
- 22.55%
- 1Y
- 72.59%
- 3Y*
- 55.10%
- 5Y*
- 27.35%
- 10Y*
- 25.22%
PIPR vs. GS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIPR Piper Sandler Companies | -3.70% | 15.52% | 74.24% | 37.78% | -23.41% | 85.33% | 29.64% | 23.88% | -20.69% | 21.22% |
GS The Goldman Sachs Group, Inc. | 25.72% | 56.64% | 52.03% | 15.91% | -7.87% | 47.61% | 17.45% | 40.48% | -33.53% | 7.73% |
Correlation
The correlation between PIPR and GS is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2004 | 0.61 |
The correlation between PIPR and GS has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
Fundamentals
PIPR:
$5.70B
GS:
$337.09B
PIPR:
$3.96
GS:
$57.41
PIPR:
20.22
GS:
19.06
PIPR:
1.34
GS:
2.47
PIPR:
2.85
GS:
3.11
PIPR:
4.25
GS:
2.74
PIPR:
$2.00B
GS:
$110.77B
PIPR:
$1.95B
GS:
$61.53B
PIPR:
$455.82M
GS:
$24.94B
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Return for Risk
PIPR vs. GS — Risk / Return Rank
PIPR
GS
PIPR vs. GS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Piper Sandler Companies (PIPR) and The Goldman Sachs Group, Inc. (GS). 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.
| PIPR | GS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.41 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 3.76 | -2.73 |
| Martin ratioReturn relative to average drawdown | 2.39 | 12.47 | -10.08 |
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Drawdowns
PIPR vs. GS - Drawdown Comparison
The maximum PIPR drawdown since its inception was -76.97%, roughly equal to the maximum GS drawdown of -78.84%. Use the drawdown chart below to compare losses from any high point for PIPR and GS.
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Drawdown Indicators
| PIPR | GS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.97% | -78.84% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -24.56% | -19.42% | -5.14% |
Max Drawdown (3Y)Largest decline over 3 years | -38.78% | -30.90% | -7.88% |
Max Drawdown (5Y)Largest decline over 5 years | -42.30% | -32.84% | -9.46% |
Max Drawdown (10Y)Largest decline over 10 years | -63.02% | -48.75% | -14.27% |
Current DrawdownCurrent decline from peak | -13.47% | -1.08% | -12.39% |
Average DrawdownAverage peak-to-trough decline | -30.59% | -22.63% | -7.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.56% | 5.84% | +4.72% |
Volatility
PIPR vs. GS - Volatility Comparison
The current volatility for Piper Sandler Companies (PIPR) is 7.33%, while The Goldman Sachs Group, Inc. (GS) has a volatility of 10.15%. This indicates that PIPR experiences smaller price fluctuations and is considered to be less risky than GS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIPR | GS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.33% | 10.15% | -2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 26.71% | 23.25% | +3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.43% | 28.43% | +6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.26% | 28.04% | +7.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.47% | 29.78% | +6.69% |
Dividends
PIPR vs. GS - Dividend Comparison
PIPR's dividend yield for the trailing twelve months is around 2.47%, more than GS's 1.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GS The Goldman Sachs Group, Inc. | 1.55% | 1.59% | 2.01% | 2.72% | 2.62% | 1.70% | 1.90% | 1.80% | 1.89% | 1.14% | 1.09% | 1.41% |
PIPR Piper Sandler Companies | 2.47% | 1.68% | 1.17% | 2.09% | 5.30% | 3.81% | 1.98% | 1.88% | 4.74% | 1.45% | 0.00% | 0.00% |
Financials
PIPR vs. GS - Financials Comparison
This section allows you to compare key financial metrics between Piper Sandler Companies and The Goldman Sachs Group, Inc.. 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
PIPR vs. GS - Profitability Comparison
PIPR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Piper Sandler Companies reported a gross profit of 456.39M and revenue of 475.15M. Therefore, the gross margin over that period was 96.1%.
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%.
PIPR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Piper Sandler Companies reported an operating income of 88.67M and revenue of 475.15M, resulting in an operating margin of 18.7%.
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%.
PIPR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Piper Sandler Companies reported a net income of 65.24M and revenue of 475.15M, resulting in a net margin of 13.7%.
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%.
Frequently Asked Questions
PIPR and GS have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GS has higher volatility (10.15%) compared to PIPR (7.33%). In terms of maximum drawdown, PIPR dropped -76.97% vs GS's -78.84%.
GS currently has the higher Sharpe Ratio (2.57 vs 0.74), 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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