Singapore Exchange Correlations

SPXCY Stock

USD 19.58 0.11 0.56%

The current 90-days correlation between Singapore Exchange and Singapore Exchange Limited is 0.09 (i.e., Significant diversification). The correlation of Singapore Exchange 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 Exchange Correlation With Market

Significant diversification

The correlation between Singapore Exchange Ltd and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Singapore Exchange Ltd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Singapore Exchange 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 Exchange 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 Exchange - 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 Exchange Ltd to buy it.

Moving together with Singapore Pink Sheet

0.84	ICE	Intercontinental Exchange	Pair Corr
0.77	CME	CME Group	Pair Corr
0.79	HKXCF	Hong Kong Exchanges Normal Trading	Pair Corr
0.81	HKXCY	Hong Kong Exchange	Pair Corr
0.72	BRK-A	Berkshire Hathaway	Pair Corr
0.74	UBER	Uber Technologies Aggressive Push	Pair Corr
0.81	ARI	Apollo Commercial Real	Pair Corr
0.76	SGIC	Silicon Gaming	Pair Corr
0.69	MFG	Mizuho Financial	Pair Corr
0.75	TVC	Tennessee Valley Aut	Pair Corr
0.65	KRNTY	Krones AG	Pair Corr

Moving against Singapore Pink Sheet

0.79	COCXF	Chocoladefabriken Lindt	Pair Corr
0.74	QLGN	Qualigen Therapeutics	Pair Corr
0.68	SGD	Safe and Green	Pair Corr
0.65	ASTI	Ascent Solar Technol	Pair Corr
0.64	MSCI	MSCI Inc	Pair Corr
0.71	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.48	472319AM4	JEFFERIES GROUP INC	Pair Corr

Related Correlations Analysis

	SPXCF	TMXXF	LNSTY	OTCM	MORN	CME	MCO	EUXTF
SPXCF		0.7	0.1	-0.39	-0.27	0.56	0.41	0.44	SPXCF
TMXXF	0.7		0.19	-0.7	-0.67	0.9	0.19	0.8	TMXXF
LNSTY	0.1	0.19		0.14	0.07	0.06	0.45	-0.04	LNSTY
OTCM	-0.39	-0.7	0.14		0.79	-0.85	0.37	-0.85	OTCM
MORN	-0.27	-0.67	0.07	0.79		-0.83	0.49	-0.88	MORN
CME	0.56	0.9	0.06	-0.85	-0.83		-0.14	0.93	CME
MCO	0.41	0.19	0.45	0.37	0.49	-0.14		-0.36	MCO
EUXTF	0.44	0.8	-0.04	-0.85	-0.88	0.93	-0.36		EUXTF
	SPXCF	TMXXF	LNSTY	OTCM	MORN	CME	MCO	EUXTF

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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

EUXTF	+ 0.93	CME
CME	+ 0.9	TMXXF
EUXTF	+ 0.8	TMXXF
MORN	+ 0.79	OTCM
TMXXF	+ 0.7	SPXCF
CME	+ 0.56	SPXCF

High negative correlations

EUXTF	- 0.88	MORN
EUXTF	- 0.85	OTCM
CME	- 0.85	OTCM
CME	- 0.83	MORN
OTCM	- 0.7	TMXXF
MORN	- 0.67	TMXXF

Risk-Adjusted Indicators

There is a big difference between Singapore Pink Sheet performing well and Singapore Exchange 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 Exchange'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
SPXCF	1.52	0.15	0.03	0.07	2.35	(2.73)	5.30	(4.67)	22.29
TMXXF	1.04	0.29	0.21	0.45	1.05	(1.26)	2.36	(1.63)	12.34
LNSTY	1.06	0.03	0.06	0.14	1.38	(1.20)	2.39	(2.21)	8.65
OTCM	0.85	(0.20)	0.00	(1.53)	0.00	0.00	1.83	(1.92)	7.38
MORN	1.02	(0.20)	0.00	(0.30)	0.00	0.00	1.50	(2.75)	5.47
CME	0.82	0.20	0.25	(4.39)	0.83	(0.89)	1.89	(1.66)	4.90
MCO	1.17	(0.01)	0.00	(0.08)	0.00	0.00	2.06	(2.48)	8.48
EUXTF	0.63	0.29	0.00	1.00	0.00	0.00	2.94	(0.33)	9.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in Singapore Exchange 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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