BAP vs BSAC: Correlation
Measured on weekly returns over the past three years, Credicorp Ltd. (BAP) and Banco Santander - Chile (BSAC) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAP and BSAC?
On 3 years of weekly data the BAP/BSAC correlation comes out at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 331.9 %².
BSAC is one of the assets that tracks BAP most closely: it ranks #3 out of the 11 assets we track against BAP. Their 12-month results are close: +54.9% for BAP against +54.5% for BSAC.
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.
BAP vs BSAC: side by side
| BAP (Credicorp Ltd.) | BSAC (Banco Santander - Chile) | |
|---|---|---|
| 1-year return | +54.9% | +54.5% |
| 5-year return | +370.8% | +119.0% |
| Volatility (ann.) | 26.1% | 25.9% |
| Beta vs S&P 500 | 0.55 | 0.63 |
| Max drawdown (3Y) | -20.0% | -18.4% |
| Market cap | $29.6B | $16.4B |
| P/E (trailing) | 14.1 | 13.4 |
| Dividend yield | 13.07% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAP | BSAC |
|---|---|---|
| 2022 | +14.6% | +3.0% |
| 2023 | +16.3% | +31.7% |
| 2024 | +31.4% | +0.9% |
| 2025 | +65.4% | +74.3% |
| 2026 | +36.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAP and BSAC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BAP and BSAC?
The BAP/BSAC correlation stands at 0.49 on a 3-year window (1 year: 0.57, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is BSAC a good diversifier for BAP?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BAP correlations · BSAC correlations
