Singapore Airlines Correlations

SINGY Stock

USD 9.27 0.05 0.54%

The current 90-days correlation between Singapore Airlines and Japan Airlines Ltd is 0.04 (i.e., Significant 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 0.12 (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 Pink Sheet

0.71	DAL	Delta Air Lines	Pair Corr
0.54	V	Visa Class A	Pair Corr
0.5	OILCF	Permex Petroleum Trending	Pair Corr
0.38	PLTR	Palantir Technologies Earnings Call This Week	Pair Corr
0.36	CHEAF	China Eastern Airlines	Pair Corr
0.34	AIRYY	Air China	Pair Corr
0.34	GILT	Gilat Satellite Networks	Pair Corr
0.31	TD	Toronto Dominion Bank Earnings Call This Week	Pair Corr

Related Correlations Analysis

	JAPSY	CPCAY	QABSY	BABWF	CPCAF	SINGF	QUBSF	ICAGY	AFRAF	AFLYY
JAPSY		0.74	0.45	0.75	-0.91	-0.11	0.17	0.76	-0.46	-0.61	JAPSY
CPCAY	0.74		0.64	0.86	-0.6	-0.1	0.36	0.91	-0.76	-0.8	CPCAY
QABSY	0.45	0.64		0.51	-0.33	0.02	0.45	0.57	-0.76	-0.63	QABSY
BABWF	0.75	0.86	0.51		-0.64	-0.1	0.25	0.97	-0.66	-0.68	BABWF
CPCAF	-0.91	-0.6	-0.33	-0.64		-0.01	0.06	-0.64	0.32	0.47	CPCAF
SINGF	-0.11	-0.1	0.02	-0.1	-0.01		0.03	-0.07	0.23	0.25	SINGF
QUBSF	0.17	0.36	0.45	0.25	0.06	0.03		0.33	-0.36	-0.27	QUBSF
ICAGY	0.76	0.91	0.57	0.97	-0.64	-0.07	0.33		-0.69	-0.73	ICAGY
AFRAF	-0.46	-0.76	-0.76	-0.66	0.32	0.23	-0.36	-0.69		0.75	AFRAF
AFLYY	-0.61	-0.8	-0.63	-0.68	0.47	0.25	-0.27	-0.73	0.75		AFLYY
	JAPSY	CPCAY	QABSY	BABWF	CPCAF	SINGF	QUBSF	ICAGY	AFRAF	AFLYY

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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	+ 0.97	BABWF
ICAGY	+ 0.91	CPCAY
BABWF	+ 0.86	CPCAY
ICAGY	+ 0.76	JAPSY
BABWF	+ 0.75	JAPSY
AFLYY	+ 0.75	AFRAF

High negative correlations

CPCAF	- 0.91	JAPSY
AFLYY	- 0.8	CPCAY
AFRAF	- 0.76	QABSY
AFRAF	- 0.76	CPCAY
AFLYY	- 0.73	ICAGY
AFRAF	- 0.69	ICAGY

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
JAPSY	1.08	0.20	0.09	2.41	1.06	(1.19)	2.95	(1.70)	6.06
CPCAY	1.40	0.44	0.19	(2.16)	1.32	(1.64)	3.34	(1.90)	11.01
QABSY	1.42	0.09	0.02	0.39	1.42	(1.63)	3.23	(2.38)	6.94
BABWF	2.51	0.74	0.09	(1.10)	2.48	(5.87)	9.97	(5.59)	31.74
CPCAF	0.34	(0.13)	0.00	(0.66)	0.00	0.00	0.00	0.00	6.23
SINGF	1.83	0.03	(0.01)	(0.34)	2.83	(3.82)	6.22	(6.93)	18.34
QUBSF	0.87	0.27	0.00	(1.87)	0.00	0.00	3.89	(0.37)	13.91
ICAGY	1.30	0.63	0.37	10.06	0.85	(1.62)	3.70	(1.68)	9.67
AFRAF	0.93	(0.24)	0.00	(1.35)	0.00	0.00	2.98	(3.31)	18.17
AFLYY	2.01	(0.22)	0.00	(0.62)	0.00	0.00	3.80	(4.82)	13.68

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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