Banco Santander Correlations

STD Stock

ARS 167.23 0.00 0.00%

The current 90-days correlation between Banco Santander SA and United States Steel is 0.04 (i.e., Significant 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.

Banco Santander Correlation With Market

Good diversification

The correlation between Banco Santander SA and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Santander SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Banco Santander 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 Santander 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 Santander - 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 Santander SA to buy it.

Moving against Banco Stock

0.47	BABA	Alibaba Group Holding	Pair Corr
0.46	JNJ	Johnson Johnson	Pair Corr
0.41	KO	Coca Cola	Pair Corr
0.37	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	AGRO	X	CAPX	PFE	DISN	SEMI	BABA	IRSA	TECO2	WMT
AGRO		-0.67	0.82	-0.59	0.79	-0.08	-0.78	0.85	0.76	0.54	AGRO
X	-0.67		-0.64	0.21	-0.53	0.26	0.48	-0.56	-0.49	-0.46	X
CAPX	0.82	-0.64		-0.21	0.77	-0.37	-0.63	0.91	0.77	0.73	CAPX
PFE	-0.59	0.21	-0.21		-0.25	-0.62	0.72	-0.37	-0.36	0.16	PFE
DISN	0.79	-0.53	0.77	-0.25		-0.5	-0.55	0.85	0.86	0.8	DISN
SEMI	-0.08	0.26	-0.37	-0.62	-0.5		-0.16	-0.26	-0.31	-0.77	SEMI
BABA	-0.78	0.48	-0.63	0.72	-0.55	-0.16		-0.68	-0.64	-0.18	BABA
IRSA	0.85	-0.56	0.91	-0.37	0.85	-0.26	-0.68		0.9	0.67	IRSA
TECO2	0.76	-0.49	0.77	-0.36	0.86	-0.31	-0.64	0.9		0.66	TECO2
WMT	0.54	-0.46	0.73	0.16	0.8	-0.77	-0.18	0.67	0.66		WMT
	AGRO	X	CAPX	PFE	DISN	SEMI	BABA	IRSA	TECO2	WMT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

IRSA	+ 0.91	CAPX
TECO2	+ 0.9	IRSA
TECO2	+ 0.86	DISN
IRSA	+ 0.85	AGRO
IRSA	+ 0.85	DISN
CAPX	+ 0.82	AGRO

High negative correlations

BABA	- 0.78	AGRO
WMT	- 0.77	SEMI
IRSA	- 0.68	BABA
X	- 0.67	AGRO
TECO2	- 0.64	BABA
CAPX	- 0.64	X

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
AGRO	3.07	0.52	0.14	(4.93)	2.70	(3.76)	6.87	(4.60)	16.31
X	2.57	(0.05)	0.00	(0.17)	0.00	0.00	6.19	(5.83)	16.36
CAPX	2.91	0.39	0.09	1.96	3.07	(3.31)	6.76	(5.65)	21.54
PFE	1.19	(0.08)	0.00	(0.67)	0.00	0.00	2.35	(2.55)	9.32
DISN	1.06	0.29	0.13	2.98	1.17	(1.19)	2.06	(1.86)	9.73
SEMI	3.78	(1.03)	0.00	(0.83)	0.00	0.00	7.51	(4.98)	85.52
BABA	1.98	0.16	0.02	(0.67)	2.41	(2.19)	4.60	(4.03)	12.25
IRSA	2.15	0.30	0.08	(4.08)	2.31	(2.45)	5.71	(3.77)	13.90
TECO2	2.96	0.57	0.20	0.59	2.69	(3.54)	6.90	(4.40)	17.16
WMT	1.02	0.28	0.15	3.47	0.95	(1.19)	2.73	(1.96)	5.15

Be your own money manager

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

Did you try this?

Run ETFs Now

ETFs

Find actively traded Exchange Traded Funds (ETF) from around the world

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC