| Your Current Location : Correlation : Country Correlation |
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Country Correlation Matrix |
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| The following table shows return correlations between various Country Indices over the past 3 Months. |
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C1 |
C2 |
C3 |
C4 |
C5 |
C6 |
C7 |
C8 |
C9 |
C10 |
C11 |
C12 |
C13 |
C14 |
C15 |
C16 |
C17 |
|
Return |
SD |
| BOVESPA (Brazil) |
C1 |
1.00 |
0.14 |
0.04 |
0.39 |
0.25 |
-0.05 |
0.04 |
-0.00 |
0.27 |
-0.20 |
-0.08 |
-0.20 |
0.32 |
0.06 |
0.26 |
0.06 |
-0.07 |
|
15.29 |
15.08 |
| CAC (France) |
C2 |
0.14 |
1.00 |
0.73 |
0.52 |
0.61 |
-0.16 |
0.12 |
0.30 |
0.48 |
0.20 |
0.07 |
0.02 |
0.52 |
-0.10 |
0.14 |
0.27 |
0.11 |
|
5.82 |
14.36 |
| DAX (Germany) |
C3 |
0.04 |
0.73 |
1.00 |
0.55 |
0.70 |
-0.13 |
0.27 |
0.21 |
0.55 |
0.20 |
-0.01 |
-0.11 |
0.56 |
-0.09 |
0.10 |
0.24 |
0.11 |
|
1.20 |
16.26 |
| DJIA (USA) |
C4 |
0.39 |
0.52 |
0.55 |
1.00 |
0.69 |
-0.02 |
-0.04 |
0.08 |
0.72 |
-0.04 |
0.02 |
-0.10 |
0.85 |
-0.06 |
0.02 |
0.05 |
0.07 |
|
5.39 |
14.70 |
| FTSE 100 (UK) |
C5 |
0.25 |
0.61 |
0.70 |
0.69 |
1.00 |
-0.02 |
0.12 |
0.38 |
0.47 |
0.16 |
-0.12 |
-0.24 |
0.55 |
-0.09 |
0.11 |
0.21 |
0.11 |
|
5.45 |
11.47 |
| HANGSENG (HONGKONG) |
C6 |
-0.05 |
-0.16 |
-0.13 |
-0.02 |
-0.02 |
1.00 |
-0.30 |
-0.07 |
-0.15 |
-0.05 |
-0.02 |
-0.10 |
-0.09 |
0.00 |
-0.01 |
-0.15 |
-0.01 |
|
0.75 |
1078.42 |
| JAKARTA (Indonesia) |
C7 |
0.04 |
0.12 |
0.27 |
-0.04 |
0.12 |
-0.30 |
1.00 |
0.01 |
0.12 |
-0.05 |
0.02 |
-0.05 |
0.05 |
0.03 |
0.12 |
0.24 |
-0.01 |
|
13.02 |
21.48 |
| KOSPI (S Korea) |
C8 |
-0.00 |
0.30 |
0.21 |
0.08 |
0.38 |
-0.07 |
0.01 |
1.00 |
0.05 |
0.63 |
0.12 |
-0.24 |
0.04 |
0.19 |
0.01 |
0.30 |
-0.17 |
|
25.76 |
38.74 |
| NASDAQ (USA) |
C9 |
0.27 |
0.48 |
0.55 |
0.72 |
0.47 |
-0.15 |
0.12 |
0.05 |
1.00 |
-0.01 |
0.08 |
-0.08 |
0.96 |
0.00 |
0.15 |
0.03 |
0.00 |
|
8.31 |
22.46 |
| NIFTY (India) |
C10 |
-0.20 |
0.20 |
0.20 |
-0.04 |
0.16 |
-0.05 |
-0.05 |
0.63 |
-0.01 |
1.00 |
0.16 |
-0.08 |
-0.01 |
0.18 |
0.09 |
0.03 |
-0.17 |
|
5.33 |
12.96 |
| NIKEEI (Japan) |
C11 |
-0.08 |
0.07 |
-0.01 |
0.02 |
-0.12 |
-0.02 |
0.02 |
0.12 |
0.08 |
0.16 |
1.00 |
0.06 |
0.07 |
0.67 |
0.01 |
0.03 |
-0.67 |
|
16.18 |
327.54 |
| RTSI (Russia) |
C12 |
-0.20 |
0.02 |
-0.11 |
-0.10 |
-0.24 |
-0.10 |
-0.05 |
-0.24 |
-0.08 |
-0.08 |
0.06 |
1.00 |
-0.08 |
-0.08 |
-0.34 |
-0.10 |
0.07 |
|
-2.96 |
30.88 |
| S&P 500 (USA) |
C13 |
0.32 |
0.52 |
0.56 |
0.85 |
0.55 |
-0.09 |
0.05 |
0.04 |
0.96 |
-0.01 |
0.07 |
-0.08 |
1.00 |
-0.04 |
0.11 |
0.04 |
0.04 |
|
5.79 |
16.14 |
| S&P ASX 200 (Australia) |
C14 |
0.06 |
-0.10 |
-0.09 |
-0.06 |
-0.09 |
0.00 |
0.03 |
0.19 |
0.00 |
0.18 |
0.67 |
-0.08 |
-0.04 |
1.00 |
0.00 |
0.15 |
-1.00 |
|
-1.80 |
800.94 |
| SENSEX (India) |
C15 |
0.26 |
0.14 |
0.10 |
0.02 |
0.11 |
-0.01 |
0.12 |
0.01 |
0.15 |
0.09 |
0.01 |
-0.34 |
0.11 |
0.00 |
1.00 |
0.08 |
-0.01 |
|
5.72 |
780.76 |
| SHANGHAI (China) |
C16 |
0.06 |
0.27 |
0.24 |
0.05 |
0.21 |
-0.15 |
0.24 |
0.30 |
0.03 |
0.03 |
0.03 |
-0.10 |
0.04 |
0.15 |
0.08 |
1.00 |
-0.14 |
|
2.50 |
19.13 |
| STRAIT TIMES (Singapore) |
C17 |
-0.07 |
0.11 |
0.11 |
0.07 |
0.11 |
-0.01 |
-0.01 |
-0.17 |
0.00 |
-0.17 |
-0.67 |
0.07 |
0.04 |
-1.00 |
-0.01 |
-0.14 |
1.00 |
|
5.55 |
636.95 |
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Note :
- Returns upto 1 year are absolute and over 1 year are compounded and annualised.
- Standard Deviations are calculated on daily return basis for the given period and are annualised.
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Intra-Portfolio Diversification 
Diversification can be quantified as the intra-portfolio correlation. This indicate Percent of diversifiable risk eliminated. |
42.63% |
| Portfolio Return |
6.90% |
| Start Date |
07 Sep 2025 |
| End Date |
05 Dec 2025 |
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| Each cell represents the correlation between the two corresponding assets. |
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| Cell Color |
Description |
Diversification Benefit |
| -1.00 to -0.40 |
Asset pair with negative correlation |
Excellent Diversification |
| -0.40 to 0.00 |
Asset pair with slight negative correlation |
Good Diversification |
| 0.00 to 0.60 |
Asset pair with mild positive correlation |
Moderate Diversification |
| 0.60 to 1.00 |
Asset pair with strong positive correlation |
Poor Diversification |
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