Banco Santander Correlations

BSD2 Stock

EUR 6.46 0.06 0.94%

The current 90-days correlation between Banco Santander SA and United Rentals is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Banco Santander moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Banco Santander SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Banco Santander Correlation With Market

Significant diversification

The correlation between Banco Santander SA and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Santander SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Banco Santander 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 Santander 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 Santander - 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 Santander SA to buy it.

Moving together with Banco Stock

0.62	E908	Lyxor 1	Pair Corr
0.7	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Banco Stock

0.73	PQ9	PT Bank Mandiri	Pair Corr
0.71	PQ9	BANK MANDIRI	Pair Corr
0.7	DBPD	Xtrackers ShortDAX	Pair Corr
0.63	BYRA	PT Bank Rakyat	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	BYRA	BANK RAKYAT IND	Pair Corr
0.58	MSF	Microsoft	Pair Corr
0.56	AMZ	Amazon Inc	Pair Corr
0.44	BYRA	BANK RAKYAT IND	Pair Corr
0.42	BYRA	PT Bank Rakyat	Pair Corr
0.38	APC	Apple Inc	Pair Corr
0.37	APC	Apple Inc	Pair Corr
0.36	APC	Apple Inc	Pair Corr
0.36	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	LDD	UR3	WIJ	COA1	OTE	CMW	ISHA	E4C
LDD		0.66	0.73	-0.68	-0.38	-0.51	-0.56	0.52	LDD
UR3	0.66		0.58	-0.92	-0.59	-0.51	-0.51	0.82	UR3
WIJ	0.73	0.58		-0.76	-0.54	-0.51	-0.47	0.44	WIJ
COA1	-0.68	-0.92	-0.76		0.66	0.54	0.5	-0.75	COA1
OTE	-0.38	-0.59	-0.54	0.66		0.28	0.28	-0.48	OTE
CMW	-0.51	-0.51	-0.51	0.54	0.28		0.74	-0.55	CMW
ISHA	-0.56	-0.51	-0.47	0.5	0.28	0.74		-0.58	ISHA
E4C	0.52	0.82	0.44	-0.75	-0.48	-0.55	-0.58		E4C
	LDD	UR3	WIJ	COA1	OTE	CMW	ISHA	E4C

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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

E4C	+ 0.82	UR3
ISHA	+ 0.74	CMW
WIJ	+ 0.73	LDD
UR3	+ 0.66	LDD
OTE	+ 0.66	COA1
WIJ	+ 0.58	UR3

High negative correlations

COA1	- 0.92	UR3
COA1	- 0.76	WIJ
E4C	- 0.75	COA1
COA1	- 0.68	LDD
OTE	- 0.59	UR3
E4C	- 0.58	ISHA

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
LDD	3.34	(0.46)	0.00	(0.49)	0.00	0.00	8.05	(6.98)	29.16
UR3	1.83	(0.32)	0.00	(0.78)	0.00	0.00	3.69	(4.15)	14.00
WIJ	2.39	(0.20)	0.00	(54.98)	0.00	0.00	5.68	(5.82)	24.13
COA1	2.57	0.70	0.12	(1.40)	2.06	(9.22)	11.76	(5.56)	22.22
OTE	0.63	0.01	0.06	0.16	0.82	(1.23)	1.78	(1.70)	6.04
CMW	2.38	0.17	0.06	(0.51)	2.82	(3.35)	5.26	(5.00)	24.24
ISHA	2.18	0.24	0.08	1.77	2.87	(2.81)	4.90	(4.37)	27.37
E4C	0.98	(0.04)	0.03	0.02	1.29	(1.47)	2.26	(2.20)	9.08

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Our tools can tell you how much better you can do entering a position in Banco Santander without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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