Banco Santander Correlations

BSBR Stock

USD 4.37 0.09 2.02%

The current 90-days correlation between Banco Santander Brasil and Banco Bradesco SA is 0.56 (i.e., Very weak diversification). The correlation of Banco Santander 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.

Banco Santander Correlation With Market

Modest diversification

The correlation between Banco Santander Brasil and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Santander Brasil 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 Santander Brasil. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Banco Stock

0.67

Woori Financial Group

Pair Corr

Moving against Banco Stock

0.92	VBNK	VersaBank Normal Trading	Pair Corr
0.9	TECTP	Tectonic Financial	Pair Corr
0.9	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.88	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.87	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.87	ECBK	ECB Bancorp	Pair Corr
0.86	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.83	EBTC	Enterprise Bancorp	Pair Corr
0.81	CFG-PH	Citizens Financial Group,	Pair Corr
0.74	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.72	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.63	AX	Axos Financial	Pair Corr
0.62	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.59	VABK	Virginia National	Pair Corr
0.4	KB	KB Financial Group	Pair Corr
0.33	KEY-PI	KeyCorp	Pair Corr
0.92	WSBCP	WesBanco	Pair Corr
0.9	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.9	WMPN	William Penn Bancorp	Pair Corr
0.83	EVBN	Evans Bancorp	Pair Corr
0.82	KEY-PL	KeyCorp	Pair Corr
0.82	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.82	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.81	KEY-PK	KeyCorp	Pair Corr
0.76	ESSA	ESSA Bancorp	Pair Corr
0.75	KEY-PJ	KeyCorp	Pair Corr
0.66	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.62	TFINP	Triumph Financial	Pair Corr
0.47	BANC-PF	Banc of California	Pair Corr
0.45	WCFB	WCF Bancorp	Pair Corr
0.39	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	BCH	CFB	BBDO	CFBK	BBD	BMA	LYG	GGAL	BSAC	CIB
BCH		0.2	0.85	-0.82	0.79	-0.81	0.79	-0.83	0.88	-0.03	BCH
CFB	0.2		0.22	-0.07	0.07	-0.32	-0.07	-0.31	0.1	0.1	CFB
BBDO	0.85	0.22		-0.88	0.93	-0.87	0.64	-0.89	0.59	-0.26	BBDO
CFBK	-0.82	-0.07	-0.88		-0.85	0.8	-0.68	0.85	-0.56	0.3	CFBK
BBD	0.79	0.07	0.93	-0.85		-0.79	0.64	-0.81	0.53	-0.28	BBD
BMA	-0.81	-0.32	-0.87	0.8	-0.79		-0.51	0.98	-0.53	0.16	BMA
LYG	0.79	-0.07	0.64	-0.68	0.64	-0.51		-0.52	0.74	-0.01	LYG
GGAL	-0.83	-0.31	-0.89	0.85	-0.81	0.98	-0.52		-0.54	0.2	GGAL
BSAC	0.88	0.1	0.59	-0.56	0.53	-0.53	0.74	-0.54		0.11	BSAC
CIB	-0.03	0.1	-0.26	0.3	-0.28	0.16	-0.01	0.2	0.11		CIB
	BCH	CFB	BBDO	CFBK	BBD	BMA	LYG	GGAL	BSAC	CIB

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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

GGAL	+ 0.98	BMA
BBD	+ 0.93	BBDO
BSAC	+ 0.88	BCH
BBDO	+ 0.85	BCH
GGAL	+ 0.85	CFBK
BMA	+ 0.8	CFBK

High negative correlations

GGAL	- 0.89	BBDO
CFBK	- 0.88	BBDO
BMA	- 0.87	BBDO
BBD	- 0.85	CFBK
GGAL	- 0.83	BCH
CFBK	- 0.82	BCH

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
BCH	0.88	(0.18)	0.00	(0.25)	0.00	0.00	1.86	(2.32)	5.69
CFB	1.64	(0.16)	(0.03)	0.01	1.74	(2.12)	3.90	(3.00)	18.20
BBDO	1.54	(0.23)	0.00	(3.22)	0.00	0.00	2.80	(2.98)	10.00
CFBK	1.93	0.25	0.13	0.27	1.88	(2.31)	6.00	(3.51)	12.35
BBD	1.29	(0.22)	0.00	0.58	0.00	0.00	2.33	(2.83)	7.65
BMA	2.59	0.46	0.18	0.43	2.43	(3.05)	6.11	(4.23)	13.16
LYG	1.45	(0.16)	0.00	(0.09)	0.00	0.00	2.56	(3.27)	12.01
GGAL	2.19	0.70	0.36	0.72	1.38	(2.65)	5.43	(2.77)	10.94
BSAC	1.07	(0.14)	0.00	(0.18)	0.00	0.00	2.23	(2.46)	6.65
CIB	1.17	0.00	(0.02)	0.09	1.49	(1.23)	2.87	(2.12)	8.05

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