ARCO vs BCH: Correlation
How closely do Arcos Dorados Holdings Inc. Class A Shares (ARCO) and Banco De Chile (BCH) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARCO and BCH?
On 3 years of weekly data the ARCO/BCH correlation comes out at 0.47, moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.47). The 5-year figure is 0.30, and annualized covariance runs at 356.8 %².
Within ARCO's tracked universe of 10 assets, BCH comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BCH outperformed by 37.4 percentage points (+18.0% for ARCO against +55.4% for BCH).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ARCO vs BCH: side by side
| ARCO (Arcos Dorados Holdings Inc. Class A Shares) | BCH (Banco De Chile) | |
|---|---|---|
| 1-year return | +18.0% | +55.4% |
| 5-year return | +59.4% | +219.8% |
| Volatility (ann.) | 30.6% | 24.6% |
| Beta vs S&P 500 | 0.59 | 0.63 |
| Max drawdown (3Y) | -47.9% | -20.0% |
| Market cap | $1.7B | $21.0B |
| P/E (trailing) | 6.5 | 15.8 |
| Dividend yield | 3.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARCO | BCH |
|---|---|---|
| 2022 | +46.3% | +41.2% |
| 2023 | +54.9% | +23.4% |
| 2024 | -41.0% | +6.1% |
| 2025 | +4.1% | +81.2% |
| 2026 | +10.0% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCO and BCH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ARCO and BCH?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.59 over the last year and 0.30 over 5 years.
Is BCH a good diversifier for ARCO?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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[](https://www.pairbook.io/pair/arco-vs-bch/)
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Related comparisons
Hubs: ARCO correlations · BCH correlations
