Credicorp Correlations

BAP Stock

USD 302.15 1.69 0.56%

The current 90-days correlation between Credicorp and Banco Santander Chile is 0.49 (i.e., Very weak diversification). The correlation of Credicorp 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.

Credicorp Correlation With Market

Very weak diversification

The correlation between Credicorp and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Credicorp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Credicorp Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Credicorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

To learn how to invest in Credicorp Stock, please use our How to Invest in Credicorp guide.

Moving together with Credicorp Stock

0.95	C	Citigroup Earnings Call This Week	Pair Corr
0.93	RY	Royal Bank	Pair Corr
0.94	TD	Toronto Dominion Bank	Pair Corr
0.81	WF	Woori Financial Group	Pair Corr
0.95	FITB	Fifth Third Bancorp	Pair Corr
0.84	BAC	Bank of America Earnings Call This Week	Pair Corr
0.75	BBT	Beacon Financial Symbol Change	Pair Corr
0.65	BCH	Banco De Chile Normal Trading	Pair Corr
0.92	BCS	Barclays PLC ADR	Pair Corr
0.83	BNS	Bank of Nova Scotia	Pair Corr
0.95	CMA	Comerica Incorporated	Pair Corr
0.88	ING	ING Group NV	Pair Corr
0.83	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.86	MFG	Mizuho Financial	Pair Corr
0.82	NWG	Natwest Group PLC	Pair Corr
0.88	SAN	Banco Santander SA	Pair Corr
0.94	USB	US Bancorp	Pair Corr
0.9	WFC	Wells Fargo Earnings Call This Week	Pair Corr
0.9	HSBC	HSBC Holdings PLC	Pair Corr
0.84	BMO	Bank of Montreal	Pair Corr
0.81	CM	Canadian Imperial Bank	Pair Corr
0.8	MUFG	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.92	RY	Royal Bank	Pair Corr
0.86	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.8	BBVA	Banco Bilbao Viscaya	Pair Corr

Moving against Credicorp Stock

0.45	601939	China Construction Bank	Pair Corr
0.61	601998	China Citic Bank	Pair Corr
0.41	601288	Agricultural Bank	Pair Corr
0.33	600015	Hua Xia Bank	Pair Corr

Related Correlations Analysis

	HFWA	HFBL	MGYR	NKSH	BSAC	CIB	BBDO	BSBR	AVAL	BCH
HFWA		0.64	0.45	0.81	0.53	0.44	-0.08	0.24	0.14	0.51	HFWA
HFBL	0.64		0.46	0.8	0.84	0.81	0.34	0.64	0.42	0.84	HFBL
MGYR	0.45	0.46		0.66	0.4	0.3	-0.3	-0.04	-0.15	0.24	MGYR
NKSH	0.81	0.8	0.66		0.78	0.69	0.01	0.4	0.35	0.71	NKSH
BSAC	0.53	0.84	0.4	0.78		0.95	0.52	0.81	0.71	0.97	BSAC
CIB	0.44	0.81	0.3	0.69	0.95		0.63	0.86	0.73	0.96	CIB
BBDO	-0.08	0.34	-0.3	0.01	0.52	0.63		0.84	0.64	0.63	BBDO
BSBR	0.24	0.64	-0.04	0.4	0.81	0.86	0.84		0.79	0.88	BSBR
AVAL	0.14	0.42	-0.15	0.35	0.71	0.73	0.64	0.79		0.77	AVAL
BCH	0.51	0.84	0.24	0.71	0.97	0.96	0.63	0.88	0.77		BCH
	HFWA	HFBL	MGYR	NKSH	BSAC	CIB	BBDO	BSBR	AVAL	BCH

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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

BCH	+ 0.97	BSAC
BCH	+ 0.96	CIB
CIB	+ 0.95	BSAC
BCH	+ 0.88	BSBR
BSBR	+ 0.86	CIB
BSAC	+ 0.84	HFBL

High negative correlations

BBDO	- 0.3	MGYR
AVAL	- 0.15	MGYR
BBDO	- 0.08	HFWA
BSBR	- 0.04	MGYR

Risk-Adjusted Indicators

There is a big difference between Credicorp Stock performing well and Credicorp 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 Credicorp'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
HFWA	1.27	(0.07)	(0.03)	0.03	1.86	(1.24)	3.29	(3.38)	8.82
HFBL	2.22	0.52	0.10	(1.20)	3.02	(2.26)	6.73	(3.72)	21.76
MGYR	0.83	0.03	(0.04)	1.09	1.05	(0.92)	1.81	(1.61)	6.78
NKSH	1.44	0.20	0.11	0.30	1.54	(1.67)	4.17	(3.41)	8.79
BSAC	0.98	0.29	0.17	0.51	1.08	(1.08)	1.87	(2.07)	6.99
CIB	1.31	0.41	0.24	0.68	1.11	(1.52)	3.65	(2.35)	7.98
BBDO	1.70	0.12	0.04	0.28	1.89	(1.99)	3.61	(3.44)	8.84
BSBR	1.50	0.24	0.11	0.30	1.95	(1.61)	3.31	(3.16)	10.37
AVAL	1.32	0.29	0.14	0.69	1.46	(1.44)	2.79	(2.90)	9.17
BCH	1.07	0.40	0.22	0.67	1.17	(1.19)	2.72	(2.55)	7.32

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