Banco Bradesco Correlations

BBD Stock

ARS 2,330 15.00 0.64%

The current 90-days correlation between Banco Bradesco DRC and Banco Santander Brasil is 0.7 (i.e., Poor diversification). The correlation of Banco Bradesco 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 Bradesco Correlation With Market

Average diversification

The correlation between Banco Bradesco DRC and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Bradesco DRC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Banco Bradesco 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 Bradesco 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 Bradesco - 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 Bradesco DRC to buy it.

Moving together with Banco Stock

0.97	BSBR	Banco Santander Brasil	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.65	PFE	Pfizer Inc	Pair Corr
0.66	MRK	Merck Company	Pair Corr

Moving against Banco Stock

0.94	LEDE	Ledesma SAAI	Pair Corr
0.9	TGNO4	Transportadora de Gas	Pair Corr
0.9	TECO2	Telecom Argentina	Pair Corr
0.87	CEPU	Central Puerto SA	Pair Corr
0.84	DISN	Walt Disney	Pair Corr
0.84	TRAN	Compania de Transporte	Pair Corr
0.84	TGSU2	Transportadora de Gas	Pair Corr
0.83	WMT	Walmart	Pair Corr
0.83	VALO	Banco de Valores	Pair Corr
0.76	BYMA	Bolsas y Mercados	Pair Corr
0.75	BBAR	BBVA Banco Frances	Pair Corr
0.68	GGAL	Grupo Financiero Galicia	Pair Corr
0.65	ALUA	Aluar Aluminio Argentino	Pair Corr
0.57	AXP	American Express	Pair Corr
0.31	AAPL	Apple Inc DRC	Pair Corr

Related Correlations Analysis

	BBD	BSBR	GGAL	BRIO6	CEPU	LEDE	BYMA	BBAR	AXP	WMT
BBD		0.97	-0.68	0.0	-0.87	-0.94	-0.76	-0.75	-0.57	-0.83	BBD
BSBR	0.97		-0.57	0.0	-0.83	-0.91	-0.67	-0.66	-0.43	-0.72	BSBR
GGAL	-0.68	-0.57		0.0	0.86	0.77	0.96	0.96	0.84	0.9	GGAL
BRIO6	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BRIO6
CEPU	-0.87	-0.83	0.86	0.0		0.93	0.91	0.91	0.7	0.85	CEPU
LEDE	-0.94	-0.91	0.77	0.0	0.93		0.83	0.86	0.67	0.83	LEDE
BYMA	-0.76	-0.67	0.96	0.0	0.91	0.83		0.96	0.86	0.93	BYMA
BBAR	-0.75	-0.66	0.96	0.0	0.91	0.86	0.96		0.83	0.87	BBAR
AXP	-0.57	-0.43	0.84	0.0	0.7	0.67	0.86	0.83		0.84	AXP
WMT	-0.83	-0.72	0.9	0.0	0.85	0.83	0.93	0.87	0.84		WMT
	BBD	BSBR	GGAL	BRIO6	CEPU	LEDE	BYMA	BBAR	AXP	WMT

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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

BSBR	+ 0.97	BBD
BYMA	+ 0.96	GGAL
BBAR	+ 0.96	GGAL
BBAR	+ 0.96	BYMA
LEDE	+ 0.93	CEPU
WMT	+ 0.93	BYMA

High negative correlations

LEDE	- 0.94	BBD
LEDE	- 0.91	BSBR
CEPU	- 0.87	BBD
CEPU	- 0.83	BSBR
WMT	- 0.83	BBD
BYMA	- 0.76	BBD

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Bradesco 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 Bradesco'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
BBD	1.66	(0.46)	0.00	(1.55)	0.00	0.00	3.32	(4.47)	8.58
BSBR	1.98	(0.32)	0.00	(0.53)	0.00	0.00	3.75	(4.37)	13.96
GGAL	2.12	0.50	0.18	(0.59)	2.06	(2.51)	5.59	(4.30)	18.30
BRIO6	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CEPU	2.21	0.37	0.10	(1.13)	2.86	(2.23)	4.25	(4.90)	11.82
LEDE	1.77	0.55	0.22	3.18	1.83	(2.06)	5.43	(3.00)	13.46
BYMA	2.11	0.61	0.28	82.36	1.71	(2.70)	5.36	(2.86)	14.20
BBAR	3.00	1.00	0.29	(2.18)	2.57	(3.44)	8.09	(4.48)	23.09
AXP	1.44	0.19	0.11	0.49	1.38	(1.69)	3.31	(2.53)	8.56
WMT	1.04	0.21	0.14	(2.20)	1.03	(1.20)	2.73	(2.08)	5.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in Banco Bradesco 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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