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Asset Class Correlation 2019
By The Bedokian Portfolio  •  January 1, 2020
Now that it is 2020, we shall look back at 2019 to see how the various asset classes had performed for the whole year, using data from the Portfolio Visualizer site and respective ETFs representing the various asset classes. I also added the iShares MSCI Singapore Capped ETF (EWS) to show how our local equities fair against the rest.


NameTickerVTIVNQBNDGLDCASHXEWSReturnVanguard Total Stock Market ETFVTI-0.38-0.390.02-0.050.8830.67%Vanguard Real Estate ETFVNQ0.38-0.380.250.390.2528.87%Vanguard Total Bond Market ETFBND-0.390.38-0.590.26-0.338.83%SPDR Gold SharesGLD0.020.250.59--0.050.1617.86%CashCASHX-0.050.390.26-0.05-0.002.12%iShares MSCI Singapore Capped ETFEWS0.880.25-0.330.160.00-14.53%
Fig. 1 – Correlation results based on monthly returns for the period 1 Jan 2019 – 31 Dec 2019. For full data click here.


The table in Figure 1 showed that while all asset classes, as represented by their counters, had produced positive returns for 2019, there is still negative correlation existing between some of them, e.g. between equities and bonds (-0.39). This leads to the conclusion that although negative correlation between asset classes exist, it...
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By The Bedokian Portfolio
My first encounter with the financial markets started in the aftermath of the 2008/2009 Global Financial Crisis. Before this, I had no notion of what investment and trading were, although I had learned about economics, business management and accounting back in my university studies. I was a trader when I first started, albeit an amateurish one, and trading was just a side hobby of mine ...
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