Banco Santander Correlations

BSBR Stock

USD 4.67 0.06 1.27%

The current 90-days correlation between Banco Santander Brasil and Banco Bradesco SA is -0.02 (i.e., Good diversification). The correlation of Banco Santander 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Banco Santander Correlation With Market

Average diversification

The correlation between Banco Santander Brasil and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Santander Brasil 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 Santander Brasil. 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

0.76	WF	Woori Financial Group	Pair Corr
0.81	TECTP	Tectonic Financial	Pair Corr
0.8	TFC-PO	Truist Financial	Pair Corr
0.72	TFC-PR	Truist Financial	Pair Corr
0.67	CFG-PE	Citizens Financial	Pair Corr
0.76	CFG-PH	Citizens Financial Group,	Pair Corr
0.72	KEY-PI	KeyCorp	Pair Corr
0.69	KEY-PJ	KeyCorp	Pair Corr
0.77	KEY-PL	KeyCorp	Pair Corr
0.84	BANC-PF	Banc of California	Pair Corr
0.86	WSBCP	WesBanco	Pair Corr

Moving against Banco Stock

0.42	AX	Axos Financial	Pair Corr
0.39	VBNK	VersaBank	Pair Corr
0.36	VABK	Virginia National	Pair Corr
0.35	VBTX	Veritex Holdings	Pair Corr
0.72	WAFD	Washington Federal	Pair Corr
0.68	WAFDP	Washington Federal	Pair Corr
0.61	EFSI	Eagle Financial Services	Pair Corr
0.43	EGBN	Eagle Bancorp	Pair Corr
0.34	WABC	Westamerica Bancorporation	Pair Corr

Related Correlations Analysis

	BCH	CFB	BBDO	CFBK	BBD	BMA	LYG	GGAL	BSAC	CIB
BCH		-0.38	0.82	-0.36	0.83	-0.85	0.92	-0.78	0.98	0.94	BCH
CFB	-0.38		-0.63	0.04	-0.66	0.1	-0.19	-0.05	-0.41	-0.48	CFB
BBDO	0.82	-0.63		-0.1	0.87	-0.64	0.68	-0.49	0.84	0.85	BBDO
CFBK	-0.36	0.04	-0.1		-0.18	0.23	-0.4	0.15	-0.26	-0.25	CFBK
BBD	0.83	-0.66	0.87	-0.18		-0.57	0.63	-0.46	0.84	0.82	BBD
BMA	-0.85	0.1	-0.64	0.23	-0.57		-0.88	0.88	-0.85	-0.81	BMA
LYG	0.92	-0.19	0.68	-0.4	0.63	-0.88		-0.79	0.89	0.88	LYG
GGAL	-0.78	-0.05	-0.49	0.15	-0.46	0.88	-0.79		-0.79	-0.73	GGAL
BSAC	0.98	-0.41	0.84	-0.26	0.84	-0.85	0.89	-0.79		0.95	BSAC
CIB	0.94	-0.48	0.85	-0.25	0.82	-0.81	0.88	-0.73	0.95		CIB
	BCH	CFB	BBDO	CFBK	BBD	BMA	LYG	GGAL	BSAC	CIB

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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

BSAC	+ 0.98	BCH
CIB	+ 0.95	BSAC
CIB	+ 0.94	BCH
LYG	+ 0.92	BCH
BSAC	+ 0.89	LYG
GGAL	+ 0.88	BMA

High negative correlations

LYG	- 0.88	BMA
BSAC	- 0.85	BMA
BMA	- 0.85	BCH
CIB	- 0.81	BMA
BSAC	- 0.79	GGAL
GGAL	- 0.79	LYG

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Santander 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 Santander'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
BCH	1.02	0.34	0.28	0.77	0.90	(1.11)	2.34	(1.74)	4.98
CFB	1.41	(0.15)	0.00	0.20	0.00	0.00	2.78	(2.78)	8.40
BBDO	1.78	0.16	0.08	(1.97)	2.30	(1.95)	3.17	(3.54)	9.81
CFBK	1.67	(0.22)	0.00	(0.43)	0.00	0.00	3.06	(4.08)	13.08
BBD	1.73	0.26	0.11	0.35	2.01	(2.09)	3.83	(3.38)	10.46
BMA	3.09	(0.32)	0.00	(0.42)	0.00	0.00	6.40	(6.40)	21.50
LYG	1.50	0.45	0.27	(6.38)	1.38	(1.75)	4.41	(2.82)	10.36
GGAL	2.85	(0.07)	0.00	0.04	0.00	0.00	5.31	(6.09)	17.43
BSAC	1.16	0.29	0.20	0.49	1.29	(1.18)	2.52	(2.22)	5.64
CIB	1.39	0.49	0.34	0.68	1.10	(1.67)	4.11	(2.11)	8.34

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