Itau Unibanco Correlations

ITUB Stock

USD 5.66 0.03 0.53%

The current 90-days correlation between Itau Unibanco Banco and Banco Santander Brasil is 0.04 (i.e., Significant 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 0.13 (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

0.81	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.95	NU	Nu Holdings Buyout Trend	Pair Corr
0.77	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.88	TFC-PO	Truist Financial	Pair Corr
0.82	TFC-PR	Truist Financial	Pair Corr
0.84	CFG-PE	Citizens Financial	Pair Corr
0.63	CFG-PH	Citizens Financial Group,	Pair Corr
0.74	KEY-PJ	KeyCorp	Pair Corr
0.76	KEY-PK	KeyCorp	Pair Corr
0.72	WASH	Washington Trust Bancorp	Pair Corr

Moving against Itau Stock

0.61	EBTC	Enterprise Bancorp	Pair Corr
0.48	TECTP	Tectonic Financial	Pair Corr
0.46	VBFC	Village Bank	Pair Corr
0.58	BANC-PF	Banc of California	Pair Corr
0.58	WSBCP	WesBanco	Pair Corr
0.55	OCFCP	OceanFirst Financial Corp	Pair Corr
0.36	WNEB	Western New England	Pair Corr
0.35	EVBN	Evans Bancorp	Pair Corr

Related Correlations Analysis

	GGAL	BMA	BSBR	LYG	BSAC	BCH	BBDO	KEY-PI	SUPV	BBAR
GGAL		0.99	-0.71	-0.03	-0.37	-0.07	-0.67	0.03	0.98	0.96	GGAL
BMA	0.99		-0.72	-0.1	-0.42	-0.14	-0.69	0.0	0.98	0.94	BMA
BSBR	-0.71	-0.72		0.51	0.72	0.52	0.95	0.42	-0.76	-0.65	BSBR
LYG	-0.03	-0.1	0.51		0.83	0.85	0.48	0.55	-0.11	-0.02	LYG
BSAC	-0.37	-0.42	0.72	0.83		0.92	0.65	0.48	-0.44	-0.36	BSAC
BCH	-0.07	-0.14	0.52	0.85	0.92		0.45	0.53	-0.13	-0.05	BCH
BBDO	-0.67	-0.69	0.95	0.48	0.65	0.45		0.36	-0.73	-0.6	BBDO
KEY-PI	0.03	0.0	0.42	0.55	0.48	0.53	0.36		-0.01	0.16	KEY-PI
SUPV	0.98	0.98	-0.76	-0.11	-0.44	-0.13	-0.73	-0.01		0.96	SUPV
BBAR	0.96	0.94	-0.65	-0.02	-0.36	-0.05	-0.6	0.16	0.96		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	+ 0.99	GGAL
SUPV	+ 0.98	GGAL
SUPV	+ 0.98	BMA
BBAR	+ 0.96	GGAL
BBAR	+ 0.96	SUPV
BBDO	+ 0.95	BSBR

High negative correlations

SUPV	- 0.76	BSBR
SUPV	- 0.73	BBDO
BSBR	- 0.72	BMA
BSBR	- 0.71	GGAL
BBDO	- 0.69	BMA
BBDO	- 0.67	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	2.35	0.51	0.13	(0.68)	2.46	(2.71)	6.08	(4.05)	16.57
BMA	2.78	0.55	0.13	(0.71)	2.73	(3.44)	7.74	(6.01)	23.19
BSBR	1.85	(0.19)	0.00	(0.52)	0.00	0.00	3.66	(4.48)	10.10
LYG	1.41	(0.07)	0.00	(0.10)	0.00	0.00	2.60	(2.91)	10.88
BSAC	1.06	(0.06)	0.00	(0.16)	0.00	0.00	2.16	(2.46)	5.55
BCH	0.90	(0.01)	(0.06)	0.01	1.35	(0.79)	1.99	(2.14)	5.66
BBDO	1.81	(0.21)	0.00	(0.42)	0.00	0.00	2.97	(4.19)	11.42
KEY-PI	0.62	0.00	(0.10)	0.09	0.72	(0.64)	1.42	(1.12)	4.39
SUPV	2.99	1.22	0.31	(1.19)	2.61	(3.62)	7.58	(6.30)	23.59
BBAR	3.22	1.05	0.24	(1.98)	3.07	(3.64)	8.73	(5.94)	21.69

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