Correlation Between Banco Bilbao and Banco Santander
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By analyzing existing cross correlation between Banco Bilbao Vizcaya and Banco Santander SA, you can compare the effects of market volatilities on Banco Bilbao and Banco Santander and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Banco Bilbao with a short position of Banco Santander. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banco Bilbao and Banco Santander.
Diversification Opportunities for Banco Bilbao and Banco Santander
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Banco and Banco is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Banco Bilbao Vizcaya and Banco Santander SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Santander SA and Banco Bilbao is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Banco Bilbao Vizcaya are associated (or correlated) with Banco Santander. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Santander SA has no effect on the direction of Banco Bilbao i.e., Banco Bilbao and Banco Santander go up and down completely randomly.
Pair Corralation between Banco Bilbao and Banco Santander
If you would invest 339.00 in Banco Santander SA on September 4, 2024 and sell it today you would earn a total of 98.00 from holding Banco Santander SA or generate 28.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Banco Bilbao Vizcaya vs. Banco Santander SA
Performance |
| Timeline |
| Banco Bilbao Vizcaya |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Banco Santander SA |
Banco Bilbao and Banco Santander Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banco Bilbao and Banco Santander
The main advantage of trading using opposite Banco Bilbao and Banco Santander positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banco Bilbao position performs unexpectedly, Banco Santander can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Banco Santander will offset losses from the drop in Banco Santander's long position.| Banco Bilbao vs. QINGCI GAMES INC | Banco Bilbao vs. Southwest Airlines Co | Banco Bilbao vs. Media and Games | Banco Bilbao vs. FRACTAL GAMING GROUP |
| Banco Santander vs. JPMorgan Chase Co | Banco Santander vs. HSBC Holdings plc | Banco Santander vs. Citigroup | Banco Santander vs. Mitsubishi UFJ Financial |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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