Banco Bilbao Correlations

BBVA Stock

MXN 195.00 6.89 3.41%

The current 90-days correlation between Banco Bilbao Vizcaya and Citigroup is 0.18 (i.e., Average diversification). The correlation of Banco Bilbao 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Banco Bilbao Correlation With Market

Significant diversification

The correlation between Banco Bilbao Vizcaya and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco Bilbao Vizcaya and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Banco Bilbao 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 Bilbao 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 Bilbao - 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 Bilbao Vizcaya to buy it.

Moving against Banco Stock

0.57	BRKB	Berkshire Hathaway	Pair Corr
0.56	BAC	Bank of America	Pair Corr
0.54	JPM	JPMorgan Chase	Pair Corr
0.49	DIS	Walt Disney	Pair Corr
0.48	T	ATT Inc	Pair Corr
0.45	C	Citigroup	Pair Corr
0.45	USB	US Bancorp	Pair Corr
0.44	NFLX	Netflix	Pair Corr
0.36	TSMN	Taiwan Semiconductor	Pair Corr
0.33	UNH	UnitedHealth Group	Pair Corr
0.31	AAPL	Apple Inc	Pair Corr
0.31	MSFT	Microsoft	Pair Corr
0.31	AMZN	Amazon Inc	Pair Corr
0.6	MNST	Monster Beverage Corp	Pair Corr
0.52	DAL	Delta Air Lines	Pair Corr
0.51	CTSH	Cognizant Technology	Pair Corr
0.5	CVX	Chevron Corp	Pair Corr
0.5	HON	Honeywell International	Pair Corr
0.5	PG	Procter Gamble DRC	Pair Corr
0.48	GT	Goodyear Tire	Pair Corr
0.48	TRV	The Travelers Companies	Pair Corr
0.43	WMT	Walmart	Pair Corr
0.42	LABB	Genomma Lab Internacional	Pair Corr
0.41	VLO	Valero Energy	Pair Corr
0.39	HBCN	HSBC Holdings plc	Pair Corr

Related Correlations Analysis

	JPM	C	BBVA	MNST	WMT	DAL	TRV	NOV	VLO
JPM		0.95	-0.54	0.83	0.87	0.97	0.75	0.27	0.5	JPM
C	0.95		-0.45	0.69	0.93	0.93	0.71	0.44	0.42	C
BBVA	-0.54	-0.45		-0.6	-0.43	-0.52	-0.48	0.06	-0.41	BBVA
MNST	0.83	0.69	-0.6		0.65	0.81	0.7	-0.07	0.62	MNST
WMT	0.87	0.93	-0.43	0.65		0.85	0.74	0.57	0.33	WMT
DAL	0.97	0.93	-0.52	0.81	0.85		0.78	0.28	0.46	DAL
TRV	0.75	0.71	-0.48	0.7	0.74	0.78		0.34	0.24	TRV
NOV	0.27	0.44	0.06	-0.07	0.57	0.28	0.34		-0.4	NOV
VLO	0.5	0.42	-0.41	0.62	0.33	0.46	0.24	-0.4		VLO
	JPM	C	BBVA	MNST	WMT	DAL	TRV	NOV	VLO

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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

DAL	+ 0.97	JPM
C	+ 0.95	JPM
WMT	+ 0.93	C
DAL	+ 0.93	C
WMT	+ 0.87	JPM
DAL	+ 0.85	WMT

High negative correlations

MNST	- 0.6	BBVA
BBVA	- 0.54	JPM
DAL	- 0.52	BBVA
TRV	- 0.48	BBVA
BBVA	- 0.45	C
WMT	- 0.43	BBVA

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Bilbao 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 Bilbao'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
JPM	1.27	0.28	0.17	2.48	1.15	(1.67)	2.65	(2.17)	16.63
C	1.40	0.27	0.14	(2.17)	1.38	(1.58)	3.59	(2.66)	13.36
BBVA	1.55	(0.02)	0.00	(0.04)	0.00	0.00	3.08	(3.69)	11.73
MNST	0.79	0.04	0.01	0.26	1.29	(1.60)	2.65	(2.04)	9.07
WMT	0.96	0.30	0.21	1.67	0.93	(1.05)	2.33	(1.67)	7.67
DAL	2.02	0.54	0.22	(6.34)	1.71	(2.68)	5.15	(3.14)	12.04
TRV	0.88	0.25	0.00	5.99	0.00	0.00	1.69	(0.86)	27.59
NOV	0.01	0.00	0.00	0.63	0.00	0.00	0.00	0.00	0.47
VLO	0.92	(0.13)	0.00	(0.23)	0.00	0.00	2.73	(3.77)	13.20

Be your own money manager

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

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