Banco Bilbao Correlations
| BBVXF Stock | USD 14.58 0.93 6.81% |
The current 90-days correlation between Banco Bilbao Vizcaya and Barclays PLC is -0.23 (i.e., Very good diversification). The correlation of Banco Bilbao 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 Bilbao Correlation With Market
Good diversification
The correlation between Banco Bilbao Vizcaya and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Bilbao Vizcaya and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Banco Bilbao could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Banco Bilbao when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Banco Bilbao - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Banco Bilbao Vizcaya to buy it.
Moving together with Banco Pink Sheet
| 0.62 | BML-PG | Bank of America | PairCorr |
| 0.88 | IDCBF | Industrial and Commercial | PairCorr |
| 0.85 | IDCBY | Industrial Commercial Earnings Call Tomorrow | PairCorr |
| 0.86 | MUFG | Mitsubishi UFJ Financial Buyout Trend | PairCorr |
| 0.71 | BKLRF | Berkeley Energy | PairCorr |
| 0.86 | WM | Waste Management | PairCorr |
| 0.76 | GLU | Gabelli Global Utility | PairCorr |
| 0.78 | ANPMF | Andean Precious Metals | PairCorr |
| 0.83 | ISMAY | Indra Sistemas SA Downward Rally | PairCorr |
| 0.68 | HROWM | Harrow Health, 11875 | PairCorr |
| 0.78 | GTN | Gray Television | PairCorr |
| 0.9 | AEM | Agnico Eagle Mines | PairCorr |
Moving against Banco Pink Sheet
| 0.75 | LNDNF | Lundin Energy AB | PairCorr |
| 0.56 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.34 | INBX | Inhibrx Symbol Change | PairCorr |
| 0.48 | SHWZ | Medicine Man Technologies Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
| -0.1 | -0.15 | 0.07 | 0.12 | 0.02 | BACRP | ||
| -0.1 | 0.41 | 0.75 | 0.5 | 0.81 | BCLYF | ||
| -0.15 | 0.41 | 0.05 | -0.01 | 0.08 | BAC-PS | ||
| 0.07 | 0.75 | 0.05 | 0.8 | 0.95 | AAVMY | ||
| 0.12 | 0.5 | -0.01 | 0.8 | 0.73 | INGVF | ||
| 0.02 | 0.81 | 0.08 | 0.95 | 0.73 | BNDSF | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Banco Pink Sheet performing well and Banco Bilbao 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 Bilbao'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BACRP | 4.94 | 0.57 | 0.03 | 0.73 | 7.38 | 25.00 | 92.19 | |||
| BCLYF | 2.82 | 0.18 | 0.06 | 0.36 | 3.77 | 5.56 | 15.66 | |||
| BAC-PS | 0.64 | (0.01) | 0.00 | (0.10) | 0.00 | 1.16 | 4.17 | |||
| AAVMY | 1.27 | 0.53 | 0.35 | 1.61 | 1.27 | 3.62 | 13.50 | |||
| INGVF | 1.40 | 0.14 | 0.05 | 0.33 | 1.81 | 5.90 | 13.52 | |||
| BNDSF | 2.48 | 0.80 | 0.21 | 3.11 | 2.10 | 6.12 | 20.15 |
Be your own money manager
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