DBS GROUP Correlations

DEVL Stock

EUR 30.80 0.17 0.56%

The correlation of DBS GROUP is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

DBS GROUP Correlation With Market

Significant diversification

The correlation between DBS GROUP HLDGS and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DBS GROUP HLDGS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DBS GROUP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DBS GROUP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DBS GROUP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DBS GROUP HLDGS to buy it.

Moving together with DBS Stock

0.61	DBPE	Xtrackers LevDAX	Pair Corr
0.69	E908	Lyxor 1	Pair Corr

Moving against DBS Stock

0.58	DBPD	Xtrackers ShortDAX	Pair Corr
0.57	PQ9	BANK MANDIRI	Pair Corr
0.55	BZG2	BANK CENTRAL ASIA	Pair Corr
0.51	PQ9	PT Bank Mandiri	Pair Corr
0.48	PQ9	BANK MANDIRI	Pair Corr
0.47	BYRA	BANK RAKYAT IND	Pair Corr
0.46	BZG2	BANK CENTRAL ASIA	Pair Corr
0.42	MSF	Microsoft	Pair Corr
0.41	MSF	Microsoft	Pair Corr
0.41	MSF	Microsoft	Pair Corr
0.41	MSF	Microsoft	Pair Corr
0.41	MSF	Microsoft	Pair Corr
0.4	BYRA	PT Bank Rakyat	Pair Corr
0.33	PQ9	BANK MANDIRI	Pair Corr

Related Correlations Analysis

	4H7	GRU	G7W	M8G	SC3	NU42	SMA	ISHA
4H7		0.28	0.46	0.54	-0.15	-0.01	-0.02	0.31	4H7
GRU	0.28		0.56	0.68	-0.83	0.64	0.72	0.76	GRU
G7W	0.46	0.56		0.68	-0.57	0.34	0.18	0.52	G7W
M8G	0.54	0.68	0.68		-0.53	0.3	0.27	0.48	M8G
SC3	-0.15	-0.83	-0.57	-0.53		-0.54	-0.73	-0.76	SC3
NU42	-0.01	0.64	0.34	0.3	-0.54		0.56	0.68	NU42
SMA	-0.02	0.72	0.18	0.27	-0.73	0.56		0.61	SMA
ISHA	0.31	0.76	0.52	0.48	-0.76	0.68	0.61		ISHA
	4H7	GRU	G7W	M8G	SC3	NU42	SMA	ISHA

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ISHA	+ 0.76	GRU
SMA	+ 0.72	GRU
M8G	+ 0.68	GRU
M8G	+ 0.68	G7W
ISHA	+ 0.68	NU42
NU42	+ 0.64	GRU

High negative correlations

SC3	- 0.83	GRU
ISHA	- 0.76	SC3
SMA	- 0.73	SC3
SC3	- 0.57	G7W
NU42	- 0.54	SC3
SC3	- 0.53	M8G

Risk-Adjusted Indicators

There is a big difference between DBS Stock performing well and DBS GROUP Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze DBS GROUP's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
4H7	2.10	(0.06)	0.00	0.08	0.00	0.00	5.56	(4.40)	12.63
GRU	2.33	0.32	0.14	0.98	2.75	(2.86)	6.60	(4.62)	19.23
G7W	1.27	0.06	0.10	0.07	1.60	(1.34)	2.70	(2.92)	7.45
M8G	2.58	0.06	0.00	(0.08)	0.00	0.00	5.88	(4.49)	19.25
SC3	1.34	(0.56)	0.00	(1.78)	0.00	0.00	2.12	(3.20)	18.61
NU42	2.50	0.15	0.04	0.00	3.09	(3.07)	4.76	(4.64)	26.57
SMA	0.92	0.10	0.09	0.27	1.07	(2.25)	2.13	(2.08)	8.18
ISHA	2.27	0.07	0.08	(0.22)	3.01	(2.88)	4.90	(4.74)	27.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in DBS GROUP without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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