SINGAPORE AIRLINES Correlations

SIA1 Stock

4.64 0.03 0.64%

The current 90-days correlation between SINGAPORE AIRLINES and Monster Beverage Corp is 0.26 (i.e., Modest diversification). The correlation of SINGAPORE AIRLINES 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SINGAPORE AIRLINES Correlation With Market

Average diversification

The correlation between SINGAPORE AIRLINES and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SINGAPORE AIRLINES and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SINGAPORE AIRLINES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SINGAPORE AIRLINES 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 SINGAPORE AIRLINES - 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 SINGAPORE AIRLINES to buy it.

Moving against SINGAPORE Stock

0.8	PQ9	BANK MANDIRI	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	BYRA	BANK RAKYAT IND	Pair Corr
0.66	PQ9	PT Bank Mandiri	Pair Corr
0.65	AMZ	Amazon Inc	Pair Corr
0.62	BYRA	PT Bank Rakyat	Pair Corr
0.57	DBPD	Xtrackers ShortDAX	Pair Corr
0.51	BYRA	BANK RAKYAT IND	Pair Corr
0.5	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	8QC	BAK	D1LN	H4L1	CBR	FM7	MBR	MOB
8QC		0.41	0.28	0.21	0.35	-0.37	-0.46	0.14	8QC
BAK	0.41		0.86	0.6	0.89	-0.58	0.12	0.44	BAK
D1LN	0.28	0.86		0.58	0.85	-0.37	0.25	0.26	D1LN
H4L1	0.21	0.6	0.58		0.4	-0.53	-0.05	0.28	H4L1
CBR	0.35	0.89	0.85	0.4		-0.28	0.19	0.34	CBR
FM7	-0.37	-0.58	-0.37	-0.53	-0.28		0.04	-0.66	FM7
MBR	-0.46	0.12	0.25	-0.05	0.19	0.04		-0.05	MBR
MOB	0.14	0.44	0.26	0.28	0.34	-0.66	-0.05		MOB
	8QC	BAK	D1LN	H4L1	CBR	FM7	MBR	MOB

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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

CBR	+ 0.89	BAK
D1LN	+ 0.86	BAK
CBR	+ 0.85	D1LN
H4L1	+ 0.6	BAK
H4L1	+ 0.58	D1LN
MOB	+ 0.44	BAK

High negative correlations

MOB	- 0.66	FM7
FM7	- 0.58	BAK
FM7	- 0.53	H4L1
MBR	- 0.46	8QC
FM7	- 0.37	D1LN
FM7	- 0.37	8QC

Risk-Adjusted Indicators

There is a big difference between SINGAPORE Stock performing well and SINGAPORE AIRLINES 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 SINGAPORE AIRLINES'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
8QC	0.96	0.08	0.14	(0.49)	1.11	(1.12)	2.53	(2.39)	12.74
BAK	1.31	0.53	0.26	(1.80)	1.27	(1.78)	3.36	(2.47)	8.36
D1LN	0.73	0.20	0.29	1.08	0.56	(1.03)	1.66	(1.20)	7.57
H4L1	2.37	0.34	0.13	3.24	2.46	(2.87)	4.86	(4.10)	13.70
CBR	1.19	0.26	0.17	2.25	1.35	(1.38)	2.74	(2.68)	6.31
FM7	1.37	(0.20)	0.00	(1.39)	0.00	0.00	2.82	(2.88)	7.52
MBR	1.54	0.03	0.00	(0.02)	0.00	0.00	9.09	(3.06)	26.67
MOB	1.18	0.07	0.11	(0.46)	1.19	(1.31)	3.35	(1.95)	5.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in SINGAPORE AIRLINES 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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