Singapore Airlines Correlations
| SINGF Stock | USD 4.71 0.21 4.67% |
The current 90-days correlation between Singapore Airlines and easyJet plc is -0.1 (i.e., Good 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.
Singapore Airlines Correlation With Market
Good diversification
The correlation between Singapore Airlines and DJI is -0.09 (i.e., Good 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.
Singapore |
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 Pink Sheet
| 0.67 | LUV | Southwest Airlines Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.67 | FTNT | Fortinet | PairCorr |
| 0.66 | OPFI | OppFi Inc | PairCorr |
| 0.65 | HA | Hawaiian Holdings | PairCorr |
| 0.62 | DECK | Deckers Outdoor | PairCorr |
| 0.61 | DAL | Delta Air Lines Fiscal Year End 10th of January 2025 | PairCorr |
| 0.53 | AIRYY | Air China | PairCorr |
| 0.51 | FTI | TechnipFMC PLC | PairCorr |
| 0.5 | AGFY | Agrify Corp Trending | PairCorr |
| 0.46 | CHKIF | China Southern Airlines | PairCorr |
| 0.41 | AICAF | Air China Limited | PairCorr |
| 0.41 | ESLAW | Estrella Immunopharma | PairCorr |
| 0.39 | OMIC | Singular Genomics Systems | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Singapore Pink Sheet 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' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FNNNF | 0.49 | (0.08) | 0.00 | 0.86 | 0.00 | 0.00 | 19.58 | |||
| EJTTF | 0.68 | 0.19 | 0.00 | 0.89 | 0.00 | 0.00 | 29.53 | |||
| NRSAF | 4.10 | 0.88 | 0.06 | (2.40) | 4.00 | 13.33 | 50.00 | |||
| ANZFF | 1.84 | (0.15) | 0.00 | 0.49 | 0.00 | 6.06 | 19.05 | |||
| AICAF | 1.23 | 0.24 | 0.00 | 0.47 | 0.00 | 4.44 | 26.51 | |||
| CEBUF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AFRAF | 0.61 | (0.12) | 0.00 | (0.23) | 0.00 | 0.00 | 28.47 | |||
| AIABF | 2.32 | 0.11 | 0.01 | 0.30 | 3.66 | 11.11 | 27.62 | |||
| CHKIF | 2.72 | 0.61 | 0.00 | 1.43 | 0.00 | 10.00 | 42.39 |