Banco Macro Correlations

BMA Stock

USD 75.43 0.34 0.45%

The current 90-days correlation between Banco Macro SA and Banco Santander Brasil is 0.24 (i.e., Modest diversification). The correlation of Banco Macro 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 Macro Correlation With Market

Weak diversification

The correlation between Banco Macro SA and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Macro 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 Macro 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 population.

Moving together with Banco Stock

0.63	NU	Nu Holdings	Pair Corr
0.67	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr
0.84	RF	Regions Financial Fiscal Year End 17th of January 2025	Pair Corr
0.74	VABK	Virginia National	Pair Corr
0.86	VBNK	VersaBank Normal Trading	Pair Corr
0.88	VBTX	Veritex Holdings Fiscal Year End 28th of January 2025	Pair Corr
0.77	TECTP	Tectonic Financial Normal Trading	Pair Corr
0.66	TFC-PR	Truist Financial	Pair Corr
0.9	EBMT	Eagle Bancorp Montana Fiscal Year End 28th of January 2025	Pair Corr
0.85	EBTC	Enterprise Bancorp	Pair Corr
0.82	ECBK	ECB Bancorp	Pair Corr
0.69	CFG-PE	Citizens Financial	Pair Corr
0.87	CFG-PH	Citizens Financial Group,	Pair Corr
0.62	EFSC	Enterprise Financial Fiscal Year End 27th of January 2025	Pair Corr
0.87	EGBN	Eagle Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.84	KEY-PI	KeyCorp	Pair Corr
0.86	KEY-PJ	KeyCorp Normal Trading	Pair Corr
0.89	KEY-PK	KeyCorp	Pair Corr
0.89	KEY-PL	KeyCorp	Pair Corr
0.82	WASH	Washington Trust Bancorp Fiscal Year End 22nd of January 2025	Pair Corr
0.61	BANC-PF	Banc of California	Pair Corr
0.81	EQBK	Equity Bancshares, Fiscal Year End 22nd of January 2025	Pair Corr
0.83	WAFDP	Washington Federal	Pair Corr
0.81	ESSA	ESSA Bancorp	Pair Corr
0.82	TFINP	Triumph Financial	Pair Corr
0.91	EVBN	Evans Bancorp	Pair Corr
0.74	EWBC	East West Bancorp Fiscal Year End 28th of January 2025	Pair Corr
0.9	WSBCP	WesBanco	Pair Corr

Moving against Banco Stock

0.71	FRCIL	First Republic Bank	Pair Corr
0.66	FRCHL	First Republic Bank	Pair Corr
0.65	FRCCL	First Republic Bank	Pair Corr
0.65	FRCKL	First Republic Bank	Pair Corr
0.65	FRCML	First Republic Bank	Pair Corr
0.64	FRCLL	First Republic Bank	Pair Corr
0.34	WBBW	Westbury Bancorp	Pair Corr

Related Correlations Analysis

	BSBR	CFB	BBDO	CFBK	BAP	BLX	AFBI	BAFN
BSBR		0.8	0.93	-0.7	-0.55	-0.36	-0.05	0.33	BSBR
CFB	0.8		0.68	-0.54	-0.5	-0.27	0.0	0.46	CFB
BBDO	0.93	0.68		-0.58	-0.39	-0.24	-0.05	0.32	BBDO
CFBK	-0.7	-0.54	-0.58		0.7	0.51	0.13	-0.06	CFBK
BAP	-0.55	-0.5	-0.39	0.7		0.91	0.4	0.01	BAP
BLX	-0.36	-0.27	-0.24	0.51	0.91		0.55	0.18	BLX
AFBI	-0.05	0.0	-0.05	0.13	0.4	0.55		0.21	AFBI
BAFN	0.33	0.46	0.32	-0.06	0.01	0.18	0.21		BAFN
	BSBR	CFB	BBDO	CFBK	BAP	BLX	AFBI	BAFN

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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

BBDO	+ 0.93	BSBR
BLX	+ 0.91	BAP
CFB	+ 0.8	BSBR
BAP	+ 0.7	CFBK
BBDO	+ 0.68	CFB
AFBI	+ 0.55	BLX

High negative correlations

CFBK	- 0.7	BSBR
CFBK	- 0.58	BBDO
BAP	- 0.55	BSBR
CFBK	- 0.54	CFB
BAP	- 0.5	CFB
BAP	- 0.39	BBDO

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Macro 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 Macro'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
BSBR	1.19	(0.14)	0.00	(0.07)	0.00	0.00	2.22	(3.17)	7.11
CFB	1.45	(0.22)	0.00	(0.03)	0.00	0.00	3.39	(2.91)	9.64
BBDO	1.77	(0.07)	(0.03)	0.06	1.82	(2.23)	4.07	(2.98)	12.59
CFBK	1.69	0.29	0.10	0.80	1.79	(1.99)	4.13	(3.51)	12.35
BAP	1.13	0.08	0.07	0.20	1.06	(1.29)	2.64	(1.84)	7.33
BLX	0.98	0.09	0.10	0.20	0.83	(1.09)	2.16	(1.50)	5.52
AFBI	0.25	0.04	(0.18)	0.51	0.16	(0.36)	0.66	(0.42)	2.86
BAFN	1.52	0.11	(0.03)	(0.26)	1.46	(2.09)	5.23	(2.59)	10.06

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