Itau Unibanco Correlations

ITUB Stock

USD 5.36 0.38 6.62%

The current 90-days correlation between Itau Unibanco Banco and Banco Santander Brasil is 0.75 (i.e., Poor diversification). The correlation of Itau Unibanco 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.

Itau Unibanco Correlation With Market

Average diversification

The correlation between Itau Unibanco Banco and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Itau Unibanco Banco and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Itau Unibanco Banco. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Itau Stock

0.72	TFC-PO	Truist Financial	Pair Corr
0.65	TFC-PR	Truist Financial	Pair Corr
0.67	CFG-PE	Citizens Financial	Pair Corr

Moving against Itau Stock

0.91	VBNK	VersaBank Normal Trading	Pair Corr
0.85	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.84	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.84	EBMT	Eagle Bancorp Montana Normal Trading	Pair Corr
0.82	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.79	TECTP	Tectonic Financial	Pair Corr
0.76	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.76	VBFC	Village Bank	Pair Corr
0.75	EBTC	Enterprise Bancorp	Pair Corr
0.75	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.72	AX	Axos Financial	Pair Corr
0.71	ECBK	ECB Bancorp	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.68	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.63	CFG-PH	Citizens Financial Group,	Pair Corr
0.34	VABK	Virginia National	Pair Corr
0.88	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.84	WSBCP	WesBanco	Pair Corr
0.82	WMPN	William Penn Bancorp	Pair Corr
0.81	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.76	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.75	EVBN	Evans Bancorp	Pair Corr
0.72	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.7	ESSA	ESSA Bancorp	Pair Corr
0.68	KEY-PL	KeyCorp	Pair Corr
0.67	KEY-PK	KeyCorp	Pair Corr
0.64	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr
0.61	KEY-PJ	KeyCorp	Pair Corr
0.48	BANC-PF	Banc of California	Pair Corr
0.44	TFINP	Triumph Financial	Pair Corr
0.32	WAFD	Washington Federal	Pair Corr

Related Correlations Analysis

	GGAL	BMA	BSBR	LYG	BSAC	BCH	BBDO	KEY-PI	SUPV	BBAR
GGAL		0.98	-0.9	-0.63	-0.58	-0.82	-0.88	0.31	0.87	0.92	GGAL
BMA	0.98		-0.86	-0.62	-0.58	-0.81	-0.88	0.38	0.85	0.89	BMA
BSBR	-0.9	-0.86		0.71	0.69	0.87	0.95	-0.16	-0.85	-0.9	BSBR
LYG	-0.63	-0.62	0.71		0.81	0.86	0.73	0.24	-0.81	-0.83	LYG
BSAC	-0.58	-0.58	0.69	0.81		0.91	0.65	0.21	-0.71	-0.74	BSAC
BCH	-0.82	-0.81	0.87	0.86	0.91		0.86	-0.04	-0.85	-0.89	BCH
BBDO	-0.88	-0.88	0.95	0.73	0.65	0.86		-0.28	-0.86	-0.89	BBDO
KEY-PI	0.31	0.38	-0.16	0.24	0.21	-0.04	-0.28		0.07	0.06	KEY-PI
SUPV	0.87	0.85	-0.85	-0.81	-0.71	-0.85	-0.86	0.07		0.97	SUPV
BBAR	0.92	0.89	-0.9	-0.83	-0.74	-0.89	-0.89	0.06	0.97		BBAR
	GGAL	BMA	BSBR	LYG	BSAC	BCH	BBDO	KEY-PI	SUPV	BBAR

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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

BMA	+ 0.98	GGAL
BBAR	+ 0.97	SUPV
BBDO	+ 0.95	BSBR
BBAR	+ 0.92	GGAL
BCH	+ 0.91	BSAC
BBAR	+ 0.89	BMA

High negative correlations

BBAR	- 0.9	BSBR
BSBR	- 0.9	GGAL
BBAR	- 0.89	BBDO
BBAR	- 0.89	BCH
BBDO	- 0.88	BMA
BBDO	- 0.88	GGAL

Risk-Adjusted Indicators

There is a big difference between Itau Stock performing well and Itau Unibanco 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 Itau Unibanco'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
GGAL	2.08	0.64	0.33	0.91	1.33	(2.49)	5.43	(2.78)	10.94
BMA	2.55	0.63	0.25	0.68	2.21	(3.15)	6.11	(3.65)	13.16
BSBR	1.27	(0.52)	0.00	(0.84)	0.00	0.00	1.79	(3.67)	8.65
LYG	1.41	(0.26)	0.00	(0.23)	0.00	0.00	2.54	(3.10)	12.01
BSAC	1.05	(0.17)	0.00	(0.29)	0.00	0.00	2.23	(2.57)	6.65
BCH	0.90	(0.21)	0.00	(0.35)	0.00	0.00	1.86	(2.35)	6.77
BBDO	1.54	(0.42)	0.00	4.64	0.00	0.00	2.62	(3.96)	10.00
KEY-PI	0.60	0.05	(0.09)	0.51	0.60	(0.69)	1.43	(1.02)	4.04
SUPV	2.43	0.74	0.27	1.03	2.11	(2.97)	5.83	(4.22)	15.94
BBAR	2.56	0.80	0.27	1.16	2.33	(2.93)	8.73	(4.47)	16.63

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