Banco Bradesco Correlations

BBDO Stock

USD 1.96 0.03 1.55%

The current 90-days correlation between Banco Bradesco SA and Banco De Chile is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Banco Bradesco moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Banco Bradesco SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Banco Bradesco Correlation With Market

Good diversification

The correlation between Banco Bradesco SA and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Bradesco SA 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 Bradesco SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Banco Stock

0.81	TFC-PO	Truist Financial	Pair Corr
0.76	TFC-PR	Truist Financial	Pair Corr
0.8	CFG-PE	Citizens Financial	Pair Corr

Moving against Banco Stock

0.88	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.87	VBNK	VersaBank	Pair Corr
0.87	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.86	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.85	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.84	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.84	EBTC	Enterprise Bancorp Normal Trading	Pair Corr
0.83	AX	Axos Financial	Pair Corr
0.83	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.77	TECTP	Tectonic Financial	Pair Corr
0.72	ECBK	ECB Bancorp	Pair Corr
0.57	VBFC	Village Bank	Pair Corr
0.47	CFG-PH	Citizens Financial Group,	Pair Corr
0.45	VABK	Virginia National	Pair Corr
0.36	TFC-PI	Truist Financial	Pair Corr
0.91	WSBCP	WesBanco	Pair Corr
0.88	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.88	KEY-PL	KeyCorp	Pair Corr
0.87	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.86	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.85	EVBN	Evans Bancorp	Pair Corr
0.84	WNEB	Western New England Fiscal Year End 28th of January 2025	Pair Corr
0.83	WABC	Westamerica Bancorporation Fiscal Year End 16th of January 2025	Pair Corr
0.82	WMPN	William Penn Bancorp	Pair Corr
0.79	BANC-PF	Banc of California	Pair Corr
0.78	ESSA	ESSA Bancorp	Pair Corr
0.77	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.7	KEY-PK	KeyCorp	Pair Corr
0.59	KEY-PJ	KeyCorp	Pair Corr
0.47	WAFD	Washington Federal	Pair Corr
0.38	TFINP	Triumph Financial	Pair Corr

Related Correlations Analysis

	CULL	HFBL	HMNF	LNKB	HVBC	AFBI	BCAL	AUBN	BCML	CWBC
CULL		-0.07	-0.5	-0.49	-0.54	-0.28	-0.41	-0.44	-0.49	-0.27	CULL
HFBL	-0.07		0.18	0.11	0.07	-0.07	0.1	0.3	0.14	-0.05	HFBL
HMNF	-0.5	0.18		0.61	0.4	0.41	0.53	0.66	0.61	0.47	HMNF
LNKB	-0.49	0.11	0.61		0.27	0.41	0.94	0.65	0.95	0.78	LNKB
HVBC	-0.54	0.07	0.4	0.27		0.1	0.17	0.24	0.36	0.16	HVBC
AFBI	-0.28	-0.07	0.41	0.41	0.1		0.4	0.41	0.35	0.47	AFBI
BCAL	-0.41	0.1	0.53	0.94	0.17	0.4		0.65	0.95	0.88	BCAL
AUBN	-0.44	0.3	0.66	0.65	0.24	0.41	0.65		0.65	0.47	AUBN
BCML	-0.49	0.14	0.61	0.95	0.36	0.35	0.95	0.65		0.81	BCML
CWBC	-0.27	-0.05	0.47	0.78	0.16	0.47	0.88	0.47	0.81		CWBC
	CULL	HFBL	HMNF	LNKB	HVBC	AFBI	BCAL	AUBN	BCML	CWBC

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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

BCML	+ 0.95	LNKB
BCML	+ 0.95	BCAL
BCAL	+ 0.94	LNKB
CWBC	+ 0.88	BCAL
CWBC	+ 0.81	BCML
CWBC	+ 0.78	LNKB

High negative correlations

HVBC	- 0.54	CULL
HMNF	- 0.5	CULL
BCML	- 0.49	CULL
LNKB	- 0.49	CULL
AUBN	- 0.44	CULL
BCAL	- 0.41	CULL

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Bradesco 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 Bradesco'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
CULL	0.51	(0.10)	0.00	0.86	0.00	0.00	1.18	(1.64)	4.73
HFBL	1.43	(0.10)	0.00	(0.09)	0.00	0.00	3.75	(4.31)	17.43
HMNF	1.88	0.44	0.12	(1.03)	1.85	(2.37)	4.29	(3.19)	13.15
LNKB	1.72	0.22	0.16	0.29	1.34	(2.21)	3.76	(2.16)	10.93
HVBC	1.51	0.32	0.08	2.29	2.03	(1.59)	2.68	(4.11)	18.63
AFBI	0.39	0.03	(0.19)	(0.05)	0.49	(0.50)	0.79	(0.78)	4.44
BCAL	0.96	0.14	0.24	0.20	0.43	(1.29)	2.47	(1.35)	11.39
AUBN	1.75	0.26	0.09	1.54	1.63	(2.09)	3.57	(2.67)	17.15
BCML	1.28	0.24	0.24	0.25	0.85	(1.63)	3.41	(2.05)	12.15
CWBC	1.03	(0.03)	0.00	0.09	1.15	(1.12)	2.53	(2.16)	9.14

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