Someone I knew made a remark that for 2019, the price of everything is going up; equities, REITs, bonds and even gold. So that begs the question: is there still correlation between the asset classes? Using U.S. ETFs representing the various asset classes, plus an equities ETF for the Singapore market (EWS), we shall now turn to Portfolio Visualizer to find out. Name Ticker VTI EWS VNQ BND GLD CASHX Return Vanguard Total Stock Market ETF VTI – 0.93 0.53 -0.40 0.36 0.04 18.67% iShares MSCI Singapore Capped ETF EWS 0.93 – 0.33 -0.30 0.46 0.24 13.93% Vanguard Real Estate ETF VNQ 0.53 0.33 – 0.25 0.12 0.16 19.16% Vanguard Total Bond Market ETF BND -0.40 -0.30 0.25 – 0.23 0.24 6.14% SPDR Gold Shares GLD 0.36 0.46 0.12 0.23 – 0.56 9.86% Cash CASHX 0.04 0.24 0.16 0.24 0.56 – 1.22% Fig. 1 – Correlation results based on monthly