Banco De Correlations

BCH Stock

USD 22.82 0.27 1.20%

The current 90-days correlation between Banco De Chile and Banco Bradesco SA is 0.32 (i.e., Weak diversification). The correlation of Banco De 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 De Correlation With Market

Modest diversification

The correlation between Banco De Chile and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco De Chile 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 De Chile. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Banco Stock

0.76

Woori Financial Group

Pair Corr

Moving against Banco Stock

0.84	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.81	VBNK	VersaBank Fiscal Year End 11th of December 2024	Pair Corr
0.8	TECTP	Tectonic Financial	Pair Corr
0.78	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.76	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.75	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.75	EBTC	Enterprise Bancorp	Pair Corr
0.73	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.71	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.65	AX	Axos Financial	Pair Corr
0.65	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.62	ECBK	ECB Bancorp	Pair Corr
0.6	CFG-PH	Citizens Financial Group,	Pair Corr
0.51	VABK	Virginia National	Pair Corr
0.82	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.8	WSBCP	WesBanco	Pair Corr
0.78	EVBN	Evans Bancorp	Pair Corr
0.78	WMPN	William Penn Bancorp	Pair Corr
0.77	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.74	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.67	KEY-PL	KeyCorp	Pair Corr
0.67	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.66	KEY-PK	KeyCorp	Pair Corr
0.65	KEY-PJ	KeyCorp	Pair Corr
0.61	ESSA	ESSA Bancorp	Pair Corr
0.55	BANC-PF	Banc of California	Pair Corr
0.46	WCFB	WCF Bancorp	Pair Corr
0.45	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr
0.41	TFINP	Triumph Financial	Pair Corr

Related Correlations Analysis

	BSBR	CFB	BBDO	CFBK	AVAL	BSAC	BAP	BLX	AFBI	BAFN
BSBR		0.2	0.95	-0.89	-0.13	0.66	-0.85	-0.83	-0.12	0.06	BSBR
CFB	0.2		0.13	0.01	0.29	0.0	-0.35	-0.09	0.01	0.47	CFB
BBDO	0.95	0.13		-0.89	-0.01	0.6	-0.76	-0.82	-0.16	0.0	BBDO
CFBK	-0.89	0.01	-0.89		0.07	-0.58	0.73	0.76	-0.01	0.07	CFBK
AVAL	-0.13	0.29	-0.01	0.07		0.02	0.17	0.12	-0.21	0.12	AVAL
BSAC	0.66	0.0	0.6	-0.58	0.02		-0.41	-0.5	-0.21	0.0	BSAC
BAP	-0.85	-0.35	-0.76	0.73	0.17	-0.41		0.83	0.02	-0.28	BAP
BLX	-0.83	-0.09	-0.82	0.76	0.12	-0.5	0.83		0.12	-0.04	BLX
AFBI	-0.12	0.01	-0.16	-0.01	-0.21	-0.21	0.02	0.12		-0.1	AFBI
BAFN	0.06	0.47	0.0	0.07	0.12	0.0	-0.28	-0.04	-0.1		BAFN
	BSBR	CFB	BBDO	CFBK	AVAL	BSAC	BAP	BLX	AFBI	BAFN

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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

BBDO	+ 0.95	BSBR
BLX	+ 0.83	BAP
BLX	+ 0.76	CFBK
BAP	+ 0.73	CFBK
BSAC	+ 0.66	BSBR
BSAC	+ 0.6	BBDO

High negative correlations

CFBK	- 0.89	BBDO
CFBK	- 0.89	BSBR
BAP	- 0.85	BSBR
BLX	- 0.83	BSBR
BLX	- 0.82	BBDO
BAP	- 0.76	BBDO

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco De 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 De'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
BSBR	1.15	(0.36)	0.00	(0.56)	0.00	0.00	1.93	(3.17)	6.70
CFB	1.68	(0.20)	(0.03)	0.03	1.71	(2.20)	3.90	(3.00)	18.20
BBDO	1.53	(0.20)	0.00	(13.88)	0.00	0.00	2.80	(2.98)	10.00
CFBK	1.99	0.20	0.11	0.27	1.91	(2.36)	6.00	(3.51)	12.35
AVAL	0.98	(0.03)	0.00	(0.81)	0.00	0.00	2.46	(1.95)	6.64
BSAC	1.09	(0.16)	0.00	(0.26)	0.00	0.00	2.23	(2.57)	6.65
BAP	1.04	0.21	0.13	0.48	0.96	(1.18)	2.64	(1.69)	6.10
BLX	1.04	0.08	0.08	0.19	0.94	(1.14)	3.02	(1.59)	8.08
AFBI	0.32	0.03	(0.18)	(0.08)	0.44	(0.41)	0.71	(0.65)	4.44
BAFN	1.56	0.01	(0.07)	0.04	1.62	(2.34)	5.23	(2.77)	11.38

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