Banco Bradesco Correlations

BBDO Stock

USD 3.55 0.02 0.56%

The current 90-days correlation between Banco Bradesco SA and KB Financial Group is 0.27 (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

Very weak diversification

The correlation between Banco Bradesco SA and DJI is 0.48 (i.e., Very weak 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.

Build AI portfolio with Banco Stock

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 small area income & poverty estimates.

Moving together with Banco Stock

0.61	BNPH	BNP PARIBAS ADR	Pair Corr
0.61	BY	Byline Bancorp	Pair Corr
0.67	BCVN	Banque Cantonale Vaudoise	Pair Corr
0.74	LLBN	Liechtensteinische Earnings Call This Week	Pair Corr
0.72	SANB	SANTANDER UK 8	Pair Corr
0.67	WBCPK	Westpac Banking	Pair Corr
0.69	FRYA	Swedbank AB	Pair Corr
0.85	BRE	Banco Bradesco SA	Pair Corr
0.7	ECBK	ECB Bancorp	Pair Corr
0.62	BNP	BNP Paribas SA	Pair Corr
0.71	EGBN	Eagle Bancorp	Pair Corr
0.9	BCGE	Banque Cantonale	Pair Corr
0.67	WABC	Westamerica Bancorporation	Pair Corr
0.69	WASH	Washington Trust Bancorp	Pair Corr

Moving against Banco Stock

0.33

3YB

Postal Savings Bank

Pair Corr

Related Correlations Analysis

	KB	TFC	MTB	NWG	SHG	FITB	HBAN	ACGL
KB		0.62	0.75	0.27	0.98	0.72	0.4	0.51	KB
TFC	0.62		0.97	0.72	0.64	0.96	0.92	0.76	TFC
MTB	0.75	0.97		0.68	0.75	0.99	0.87	0.69	MTB
NWG	0.27	0.72	0.68		0.25	0.71	0.75	0.46	NWG
SHG	0.98	0.64	0.75	0.25		0.71	0.4	0.59	SHG
FITB	0.72	0.96	0.99	0.71	0.71		0.9	0.65	FITB
HBAN	0.4	0.92	0.87	0.75	0.4	0.9		0.6	HBAN
ACGL	0.51	0.76	0.69	0.46	0.59	0.65	0.6		ACGL
	KB	TFC	MTB	NWG	SHG	FITB	HBAN	ACGL

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
KB	1.49	0.35	0.20	0.42	1.36	(1.67)	4.96	(2.95)	8.61
TFC	0.94	0.19	0.14	0.27	1.02	(1.01)	2.40	(1.85)	7.08
MTB	0.98	0.25	0.24	0.36	0.69	(1.19)	2.65	(1.25)	5.19
NWG	1.44	(0.08)	(0.03)	0.00	2.38	(1.26)	2.61	(2.94)	10.90
SHG	1.49	0.36	0.21	1.01	1.23	(1.77)	3.19	(2.38)	7.88
FITB	1.18	0.26	0.20	0.30	1.02	(1.43)	2.76	(2.15)	9.19
HBAN	1.29	0.09	0.05	0.15	1.71	(1.31)	3.38	(2.69)	10.36
ACGL	0.91	0.14	0.06	31.65	1.21	(0.98)	1.86	(2.04)	8.26

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