BAP vs NKSH: Correlation
Credicorp Ltd. (BAP) and National Bankshares, Inc. (NKSH) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAP and NKSH?
Over the past 3 years, BAP and NKSH moved with a correlation of 0.49, which is moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.49). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 430.8 %².
By 3-year correlation, NKSH places #5 of the 11 assets tracked against BAP. The last year tells two different stories: BAP led by 18.3 percentage points, +54.9% for BAP against +36.6% for NKSH.
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 NKSH: side by side
| BAP (Credicorp Ltd.) | NKSH (National Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +54.9% | +36.6% |
| 5-year return | +370.8% | +44.9% |
| Volatility (ann.) | 26.1% | 33.9% |
| Beta vs S&P 500 | 0.55 | 0.73 |
| Max drawdown (3Y) | -20.0% | -31.0% |
| Market cap | $29.6B | $0.3B |
| P/E (trailing) | 14.1 | 12.8 |
| Dividend yield | 13.07% | 3.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAP | NKSH |
|---|---|---|
| 2022 | +14.6% | +17.2% |
| 2023 | +16.3% | -13.1% |
| 2024 | +31.4% | -6.8% |
| 2025 | +65.4% | +23.3% |
| 2026 | +36.2% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAP and NKSH good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BAP and NKSH?
As of 2026-08-27, the correlation of weekly returns between BAP and NKSH is 0.49 over 3 years, 0.36 over 1 year and 0.32 over 5 years.
Is NKSH a good diversifier for BAP?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bap-vs-nksh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bap-vs-nksh/)
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Related comparisons
Hubs: BAP correlations · NKSH correlations
