TW vs. GS
TW (Tradeweb Markets Inc.) 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 5 years, TW returned 4.33%/yr vs 25.98%/yr for GS. At a 0.21 correlation, their price movements are largely independent.
Performance
TW vs. GS - Performance Comparison
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Returns By Period
In the year-to-date period, TW achieves a -5.67% return, which is significantly lower than GS's 22.08% return.
TW
- 1D
- 2.21%
- 1M
- -8.66%
- YTD
- -5.67%
- 6M
- -5.34%
- 1Y
- -25.94%
- 3Y*
- 14.31%
- 5Y*
- 4.33%
- 10Y*
- —
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%
TW vs. GS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TW Tradeweb Markets Inc. | -5.67% | -17.55% | 44.56% | 40.61% | -34.86% | 60.96% | 35.50% | 36.03% |
GS The Goldman Sachs Group, Inc. | 22.08% | 56.64% | 52.03% | 15.91% | -7.87% | 47.61% | 17.45% | 16.36% |
Correlation
The correlation between TW and GS is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019 | 0.21 |
The correlation between TW and GS shifts across timeframes, from 0.04 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TW:
$21.59B
GS:
$327.33B
TW:
$4.05
GS:
$57.41
TW:
24.96
GS:
18.51
TW:
0.68
GS:
2.40
TW:
10.05
GS:
3.02
TW:
3.26
GS:
2.66
TW:
$2.16B
GS:
$110.77B
TW:
$1.56B
GS:
$61.53B
TW:
$1.34B
GS:
$24.94B
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Return for Risk
TW vs. GS — Risk / Return Rank
TW
GS
TW vs. GS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradeweb Markets Inc. (TW) 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.
| TW | GS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.53 | ||
| Sortino ratioReturn per unit of downside risk | -4.48 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.41 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 3.80 | -4.62 |
| Martin ratioReturn relative to average drawdown | -1.23 | 12.61 | -13.84 |
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Drawdowns
TW vs. GS - Drawdown Comparison
The maximum TW drawdown since its inception was -48.64%, smaller than the maximum GS drawdown of -78.84%. Use the drawdown chart below to compare losses from any high point for TW and GS.
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Drawdown Indicators
| TW | GS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.64% | -78.84% | +30.20% |
Max Drawdown (1Y)Largest decline over 1 year | -32.76% | -19.42% | -13.34% |
Max Drawdown (3Y)Largest decline over 3 years | -33.89% | -30.90% | -2.99% |
Max Drawdown (5Y)Largest decline over 5 years | -48.64% | -32.84% | -15.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.75% | — |
Current DrawdownCurrent decline from peak | -31.73% | -2.73% | -29.00% |
Average DrawdownAverage peak-to-trough decline | -13.89% | -22.65% | +8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.77% | 5.84% | +15.93% |
Volatility
TW vs. GS - Volatility Comparison
The current volatility for Tradeweb Markets Inc. (TW) is 9.19%, while The Goldman Sachs Group, Inc. (GS) has a volatility of 11.84%. This indicates that TW 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
| TW | GS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 11.84% | -2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 21.37% | 23.47% | -2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.44% | 28.55% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.58% | 28.10% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.16% | 29.87% | +0.29% |
Dividends
TW vs. GS - Dividend Comparison
TW's dividend yield for the trailing twelve months is around 0.51%, less than GS's 1.60% 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% |
TW Tradeweb Markets Inc. | 0.51% | 0.45% | 0.31% | 0.40% | 0.49% | 0.32% | 0.51% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
TW vs. GS - Financials Comparison
This section allows you to compare key financial metrics between Tradeweb Markets Inc. 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
TW vs. GS - Profitability Comparison
TW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tradeweb Markets Inc. reported a gross profit of 411.78M and revenue of 617.76M. Therefore, the gross margin over that period was 66.7%.
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%.
TW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tradeweb Markets Inc. reported an operating income of 287.25M and revenue of 617.76M, resulting in an operating margin of 46.5%.
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%.
TW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tradeweb Markets Inc. reported a net income of 205.28M and revenue of 617.76M, resulting in a net margin of 33.2%.
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%.
Frequently Asked Questions
TW and GS have a correlation of 0.04, 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 TW (9.19%). In terms of maximum drawdown, TW dropped -48.64% vs GS's -78.84%.
GS currently has the higher Sharpe Ratio (2.59 vs -0.94), 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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