Singapore Airlines Correlations

SINGF Stock

USD 4.73 0.34 7.74%

The current 90-days correlation between Singapore Airlines and Cathay Pacific Airways is 0.1 (i.e., Average 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

Weak diversification

The correlation between Singapore Airlines and DJI is 0.35 (i.e., Weak 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 together with Singapore Pink Sheet

0.64	DIT	AMCON Distributing	Pair Corr
0.65	PTAIY	Astra International Tbk	Pair Corr
0.64	BKRKY	Bank Rakyat	Pair Corr
0.69	TLK	Telkom Indonesia Tbk	Pair Corr
0.74	PPERY	Bank Mandiri Persero	Pair Corr

Moving against Singapore Pink Sheet

0.64	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.47	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.46	DAL	Delta Air Lines Fiscal Year End 10th of January 2025	Pair Corr
0.43	LLYVK	Liberty Media	Pair Corr
0.4	AIRYY	Air China	Pair Corr
0.31	CHKIF	China Southern Airlines	Pair Corr
0.64	GM	General Motors	Pair Corr
0.64	KSCP	Knightscope Upward Rally	Pair Corr
0.63	DXYZ	Destiny Tech100	Pair Corr
0.59	CSTXF	CryptoStar Corp	Pair Corr
0.59	ZM	Zoom Video Communications	Pair Corr
0.55	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.54	MRVL	Marvell Technology Earnings Call Tomorrow	Pair Corr
0.53	DECK	Deckers Outdoor	Pair Corr
0.52	ALAB	Astera Labs, Common	Pair Corr
0.5	GVA	Granite Construction	Pair Corr
0.47	CRWD	Crowdstrike Holdings	Pair Corr
0.44	RCAT	Red Cat Holdings Trending	Pair Corr
0.44	ADSK	Autodesk	Pair Corr
0.44	NVDA	NVIDIA	Pair Corr
0.41	ITRI	Itron Inc	Pair Corr
0.38	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.38	SNOW	Snowflake Trending	Pair Corr

Related Correlations Analysis

	CPCAY	JAPSY	BABWF	AFLYY	QABSY	SINGY	QUBSF	CPCAF	ICAGY	AFRAF
CPCAY		0.61	0.67	-0.14	0.77	-0.18	0.71	-0.53	0.77	-0.26	CPCAY
JAPSY	0.61		0.68	-0.13	0.91	-0.54	0.78	-0.91	0.84	0.01	JAPSY
BABWF	0.67	0.68		0.05	0.77	-0.15	0.67	-0.51	0.84	-0.14	BABWF
AFLYY	-0.14	-0.13	0.05		0.04	0.68	0.16	0.06	-0.06	0.58	AFLYY
QABSY	0.77	0.91	0.77	0.04		-0.3	0.9	-0.8	0.93	0.03	QABSY
SINGY	-0.18	-0.54	-0.15	0.68	-0.3		-0.18	0.5	-0.3	0.24	SINGY
QUBSF	0.71	0.78	0.67	0.16	0.9	-0.18		-0.7	0.81	0.29	QUBSF
CPCAF	-0.53	-0.91	-0.51	0.06	-0.8	0.5	-0.7		-0.65	-0.09	CPCAF
ICAGY	0.77	0.84	0.84	-0.06	0.93	-0.3	0.81	-0.65		-0.11	ICAGY
AFRAF	-0.26	0.01	-0.14	0.58	0.03	0.24	0.29	-0.09	-0.11		AFRAF
	CPCAY	JAPSY	BABWF	AFLYY	QABSY	SINGY	QUBSF	CPCAF	ICAGY	AFRAF

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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

ICAGY	+ 0.93	QABSY
QABSY	+ 0.91	JAPSY
QUBSF	+ 0.9	QABSY
ICAGY	+ 0.84	JAPSY
ICAGY	+ 0.84	BABWF
ICAGY	+ 0.81	QUBSF

High negative correlations

CPCAF	- 0.91	JAPSY
CPCAF	- 0.8	QABSY
CPCAF	- 0.7	QUBSF
ICAGY	- 0.65	CPCAF
SINGY	- 0.54	JAPSY
CPCAF	- 0.53	CPCAY

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
CPCAY	1.31	0.33	0.11	(2.76)	1.39	(1.59)	3.34	(1.72)	10.40
JAPSY	1.08	0.24	0.07	(0.74)	1.06	(1.19)	2.95	(1.70)	6.06
BABWF	2.86	0.63	0.05	(0.65)	3.64	(6.83)	9.97	(7.93)	34.52
AFLYY	2.61	0.05	(0.02)	41.68	3.00	(3.65)	6.32	(5.77)	15.70
QABSY	1.37	0.42	0.21	1.76	1.16	(1.55)	3.15	(2.43)	7.86
SINGY	0.82	(0.04)	0.00	(0.26)	0.00	0.00	1.24	(1.73)	6.01
QUBSF	1.07	0.57	0.00	(1.70)	0.00	0.00	4.76	0.00	14.24
CPCAF	0.34	(0.15)	0.00	(0.50)	0.00	0.00	0.00	0.00	6.23
ICAGY	1.32	0.39	0.19	0.59	1.38	(1.51)	3.04	(2.26)	9.40
AFRAF	0.53	(0.03)	0.00	2.72	0.00	0.00	0.00	0.00	28.47

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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