Banco De Correlations

BCH Stock

USD 27.85 0.64 2.25%

The current 90-days correlation between Banco De Chile and Banco Bradesco SA is 0.38 (i.e., Weak diversification). The correlation of Banco De 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 De Correlation With Market

Modest diversification

The correlation between Banco De Chile and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco De Chile 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 De Chile. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Banco Stock

0.92	DB	Deutsche Bank AG	Pair Corr
0.74	WF	Woori Financial Group	Pair Corr
0.65	VBFC	Village Bank	Pair Corr
0.89	TECTP	Tectonic Financial	Pair Corr
0.72	TFC-PO	Truist Financial	Pair Corr
0.62	TFC-PR	Truist Financial	Pair Corr
0.71	EBMT	Eagle Bancorp Montana	Pair Corr
0.61	CFG-PH	Citizens Financial Group,	Pair Corr
0.73	KEY-PI	KeyCorp	Pair Corr
0.64	KEY-PJ	KeyCorp	Pair Corr
0.75	KEY-PL	KeyCorp	Pair Corr
0.86	BANC-PF	Banc of California	Pair Corr
0.84	WSBCP	WesBanco	Pair Corr

Moving against Banco Stock

0.66	VBNK	VersaBank	Pair Corr
0.62	AX	Axos Financial	Pair Corr
0.59	KB	KB Financial Group	Pair Corr
0.53	RF	Regions Financial	Pair Corr
0.52	VBTX	Veritex Holdings	Pair Corr
0.34	BY	Byline Bancorp	Pair Corr
0.34	VABK	Virginia National	Pair Corr
0.74	EFSI	Eagle Financial Services	Pair Corr
0.73	WAFD	Washington Federal	Pair Corr
0.72	WAFDP	Washington Federal	Pair Corr
0.64	EGBN	Eagle Bancorp	Pair Corr
0.5	EVBN	Evans Bancorp	Pair Corr
0.37	WABC	Westamerica Bancorporation	Pair Corr
0.34	TFINP	Triumph Financial	Pair Corr
0.34	WMPN	William Penn Bancorp	Pair Corr
0.31	EQBK	Equity Bancshares,	Pair Corr

Related Correlations Analysis

	BSBR	CFB	BBDO	CFBK	AVAL	BSAC	BAP	BLX	AFBI	BAFN
BSBR		-0.51	0.95	-0.16	0.88	0.88	0.34	0.66	-0.42	0.85	BSBR
CFB	-0.51		-0.48	0.33	-0.39	-0.26	-0.03	-0.4	0.74	-0.26	CFB
BBDO	0.95	-0.48		-0.02	0.81	0.81	0.42	0.58	-0.34	0.75	BBDO
CFBK	-0.16	0.33	-0.02		-0.3	-0.24	0.21	-0.47	0.41	-0.34	CFBK
AVAL	0.88	-0.39	0.81	-0.3		0.92	0.04	0.77	-0.35	0.94	AVAL
BSAC	0.88	-0.26	0.81	-0.24	0.92		0.22	0.71	-0.18	0.95	BSAC
BAP	0.34	-0.03	0.42	0.21	0.04	0.22		0.01	-0.08	0.06	BAP
BLX	0.66	-0.4	0.58	-0.47	0.77	0.71	0.01		-0.43	0.8	BLX
AFBI	-0.42	0.74	-0.34	0.41	-0.35	-0.18	-0.08	-0.43		-0.23	AFBI
BAFN	0.85	-0.26	0.75	-0.34	0.94	0.95	0.06	0.8	-0.23		BAFN
	BSBR	CFB	BBDO	CFBK	AVAL	BSAC	BAP	BLX	AFBI	BAFN

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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

BBDO	+ 0.95	BSBR
BAFN	+ 0.95	BSAC
BAFN	+ 0.94	AVAL
BSAC	+ 0.92	AVAL
AVAL	+ 0.88	BSBR
BSAC	+ 0.88	BSBR

High negative correlations

CFB	- 0.51	BSBR
BBDO	- 0.48	CFB
BLX	- 0.47	CFBK
AFBI	- 0.43	BLX
AFBI	- 0.42	BSBR
BLX	- 0.4	CFB

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco De 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 De'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	1.82	0.24	0.11	0.39	2.22	(2.09)	4.42	(4.26)	9.51
CFB	1.41	(0.12)	0.00	(1.29)	0.00	0.00	2.78	(2.78)	8.40
BBDO	1.81	0.12	0.06	0.21	2.34	(1.97)	3.17	(3.19)	9.81
CFBK	1.74	(0.27)	0.00	(0.51)	0.00	0.00	3.06	(4.08)	13.08
AVAL	2.12	0.48	0.21	1.45	2.12	(2.59)	5.18	(3.73)	14.82
BSAC	1.17	0.31	0.22	0.49	1.29	(1.18)	2.52	(2.22)	5.64
BAP	1.00	0.01	0.00	(0.05)	0.00	0.00	1.88	(2.03)	7.54
BLX	1.28	0.22	0.13	0.13	1.57	(1.36)	3.17	(2.23)	15.38
AFBI	1.14	(0.15)	0.00	(109.64)	0.00	0.00	2.53	(2.02)	22.46
BAFN	2.02	0.67	0.35	0.49	1.56	(2.64)	4.62	(3.37)	18.73

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