i am getting a negative beta for SPH , wrt STI index.
BETA = covar(p,m)/(sd(p) X sd(m))
since covar = corelat x Sd(p) x sd(m)
it seems that corelationship of SPH to sti index is negative ?
This site also says SPH beta is negative:
SPH (SES:T39) | financials, fundamentals and performance
If this is really true , then SPH is a very resilient stock to hold during economic crisis ?