Banco Bradesco Correlations

BBD Stock

USD 2.23 0.02 0.90%

The current 90-days correlation between Banco Bradesco SA and Banco Santander Brasil is 0.84 (i.e., Very poor diversification). The correlation of Banco Bradesco 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.

Banco Bradesco Correlation With Market

Modest diversification

The correlation between Banco Bradesco SA and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Bradesco SA and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Banco Bradesco SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Banco Stock

0.64	DB	Deutsche Bank AG	Pair Corr
0.67	NU	Nu Holdings	Pair Corr
0.69	TECTP	Tectonic Financial	Pair Corr
0.71	TFC-PO	Truist Financial	Pair Corr
0.64	TFC-PR	Truist Financial	Pair Corr
0.62	CFG-PE	Citizens Financial	Pair Corr
0.68	CFG-PH	Citizens Financial Group,	Pair Corr
0.62	KEY-PI	KeyCorp	Pair Corr
0.66	KEY-PL	KeyCorp	Pair Corr
0.72	BANC-PF	Banc of California	Pair Corr
0.79	WSBCP	WesBanco	Pair Corr

Moving against Banco Stock

0.57	WAFDP	Washington Federal	Pair Corr
0.55	WAFD	Washington Federal	Pair Corr
0.42	EFSI	Eagle Financial Services	Pair Corr

Related Correlations Analysis

	BSBR	BMA	LYG	GGAL	SUPV	BBAR	ITUB	BSAC	BCH	BBDO
BSBR		-0.61	0.73	-0.54	-0.36	-0.05	0.88	0.87	0.87	0.95	BSBR
BMA	-0.61		-0.83	0.97	0.84	0.68	-0.74	-0.85	-0.85	-0.56	BMA
LYG	0.73	-0.83		-0.78	-0.66	-0.4	0.83	0.89	0.93	0.66	LYG
GGAL	-0.54	0.97	-0.78		0.85	0.72	-0.66	-0.83	-0.81	-0.46	GGAL
SUPV	-0.36	0.84	-0.66	0.85		0.91	-0.52	-0.67	-0.65	-0.35	SUPV
BBAR	-0.05	0.68	-0.4	0.72	0.91		-0.27	-0.39	-0.39	-0.04	BBAR
ITUB	0.88	-0.74	0.83	-0.66	-0.52	-0.27		0.9	0.93	0.82	ITUB
BSAC	0.87	-0.85	0.89	-0.83	-0.67	-0.39	0.9		0.99	0.8	BSAC
BCH	0.87	-0.85	0.93	-0.81	-0.65	-0.39	0.93	0.99		0.79	BCH
BBDO	0.95	-0.56	0.66	-0.46	-0.35	-0.04	0.82	0.8	0.79		BBDO
	BSBR	BMA	LYG	GGAL	SUPV	BBAR	ITUB	BSAC	BCH	BBDO

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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

BCH	+ 0.99	BSAC
GGAL	+ 0.97	BMA
BBDO	+ 0.95	BSBR
BCH	+ 0.93	LYG
BCH	+ 0.93	ITUB
BBAR	+ 0.91	SUPV

High negative correlations

BCH	- 0.85	BMA
BSAC	- 0.85	BMA
BSAC	- 0.83	GGAL
LYG	- 0.83	BMA
BCH	- 0.81	GGAL
GGAL	- 0.78	LYG

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Bradesco 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 Banco Bradesco's 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
BSBR	1.80	0.27	0.13	0.45	2.11	(2.09)	4.42	(4.26)	9.51
BMA	3.32	(0.04)	0.00	(0.13)	0.00	0.00	7.03	(6.40)	23.57
LYG	1.48	0.55	0.29	0.46	1.39	(1.72)	4.41	(2.82)	10.36
GGAL	2.81	(0.04)	0.00	(0.13)	0.00	0.00	5.31	(6.09)	17.43
SUPV	3.63	0.09	0.06	(0.13)	4.31	(3.84)	8.08	(7.26)	26.02
BBAR	3.42	0.14	0.07	(0.22)	3.90	(3.74)	6.83	(7.47)	22.77
ITUB	1.51	0.56	0.31	0.58	1.14	(1.88)	4.27	(1.96)	14.60
BSAC	1.17	0.26	0.22	(2.11)	1.29	(1.18)	2.52	(2.22)	5.64
BCH	0.92	0.30	0.29	11.07	0.81	(0.99)	2.16	(1.47)	5.00
BBDO	1.81	0.12	0.07	0.24	2.33	(1.97)	3.17	(3.19)	9.81

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