Standard Chartered Correlations

SCBFY Stock

USD 52.55 2.02 4.00%

The current 90-days correlation between Standard Chartered PLC and National Bank of is 0.22 (i.e., Modest diversification). The correlation of Standard Chartered 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.

Standard Chartered Correlation With Market

Almost no diversification

The correlation between Standard Chartered PLC and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Standard Chartered PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Standard Pink Sheet

0.69	WFC	Wells Fargo Aggressive Push	Pair Corr
0.83	BAC-PK	Bank of America	Pair Corr
0.71	RY	Royal Bank	Pair Corr
0.82	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.91	C	Citigroup Aggressive Push	Pair Corr
0.93	AMKBY	AP Moeller Maersk	Pair Corr
0.86	RBGPF	Reckitt Benckiser	Pair Corr
0.77	SECVY	Seche Environnement	Pair Corr
0.87	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.66	INTC	Intel Aggressive Push	Pair Corr
0.84	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr

Moving against Standard Pink Sheet

0.61	BRK-A	Berkshire Hathaway	Pair Corr
0.46	PSGTF	PT Semen Indonesia	Pair Corr
0.45	BML-PG	Bank of America	Pair Corr

Related Correlations Analysis

	NTIOF	SCGLF	BNKHF	KBCSF	SCGLY	UOVEY	BHKLY	RBSPF	UOVEF	EBKOF
NTIOF		0.68	0.77	0.18	0.69	0.0	0.21	0.58	0.32	0.59	NTIOF
SCGLF	0.68		0.88	0.75	0.98	0.0	0.71	0.91	0.81	0.95	SCGLF
BNKHF	0.77	0.88		0.66	0.9	0.0	0.45	0.84	0.75	0.89	BNKHF
KBCSF	0.18	0.75	0.66		0.75	0.0	0.7	0.72	0.84	0.81	KBCSF
SCGLY	0.69	0.98	0.9	0.75		0.0	0.71	0.93	0.82	0.97	SCGLY
UOVEY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	UOVEY
BHKLY	0.21	0.71	0.45	0.7	0.71	0.0		0.66	0.66	0.7	BHKLY
RBSPF	0.58	0.91	0.84	0.72	0.93	0.0	0.66		0.79	0.91	RBSPF
UOVEF	0.32	0.81	0.75	0.84	0.82	0.0	0.66	0.79		0.86	UOVEF
EBKOF	0.59	0.95	0.89	0.81	0.97	0.0	0.7	0.91	0.86		EBKOF
	NTIOF	SCGLF	BNKHF	KBCSF	SCGLY	UOVEY	BHKLY	RBSPF	UOVEF	EBKOF

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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

SCGLY	+ 0.98	SCGLF
EBKOF	+ 0.97	SCGLY
EBKOF	+ 0.95	SCGLF
RBSPF	+ 0.93	SCGLY
RBSPF	+ 0.91	SCGLF
EBKOF	+ 0.91	RBSPF

High negative correlations

EBKOF	- 0.0	UOVEY
UOVEF	- 0.0	UOVEY
RBSPF	- 0.0	UOVEY
BHKLY	- 0.0	UOVEY
UOVEY	- 0.0	SCGLY
UOVEY	- 0.0	KBCSF

Risk-Adjusted Indicators

There is a big difference between Standard Pink Sheet performing well and Standard Chartered 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 Standard Chartered'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
NTIOF	0.70	0.12	0.08	0.38	0.64	(0.78)	1.60	(1.45)	4.35
SCGLF	1.55	0.49	0.21	0.48	0.87	(2.98)	5.94	(2.65)	12.48
BNKHF	0.49	0.23	0.00	1.87	0.00	0.00	0.00	0.00	11.96
KBCSF	0.48	0.20	0.00	0.73	0.00	0.00	0.00	0.00	11.23
SCGLY	1.30	0.42	0.32	0.66	0.79	(1.66)	3.17	(1.83)	6.00
UOVEY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BHKLY	1.03	0.11	0.06	0.34	1.01	(1.11)	2.31	(1.79)	5.78
RBSPF	2.21	0.22	0.08	0.32	2.52	(2.44)	5.51	(4.51)	13.01
UOVEF	2.06	0.22	0.03	0.78	2.84	(3.49)	8.15	(7.90)	20.11
EBKOF	1.27	0.31	0.16	0.71	1.21	(1.56)	3.84	(2.39)	9.27

Be your own money manager

Our tools can tell you how much better you can do entering a position in Standard Chartered 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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