BBAR vs PAM: Correlation
Banco BBVA Argentina S.A. (BBAR) and Pampa Energia S.A. (PAM) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBAR and PAM?
Over the past 3 years, BBAR and PAM moved with a correlation of 0.75, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.87 versus 0.75 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 2399.1 %².
In BBAR's tracked universe of 17 assets, PAM sits right near the top at #3. Neither side won the trailing year by much: +20.6% against +22.4%. Note the risk asymmetry: BBAR runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BBAR vs PAM: side by side
| BBAR (Banco BBVA Argentina S.A.) | PAM (Pampa Energia S.A.) | |
|---|---|---|
| 1-year return | +20.6% | +22.4% |
| 5-year return | +356.0% | +339.3% |
| Volatility (ann.) | 70.3% | 45.3% |
| Beta vs S&P 500 | 1.06 | 0.38 |
| Max drawdown (3Y) | -66.3% | -40.4% |
| Market cap | $3.0B | $4.3B |
| P/E (trailing) | 15.9 | 7.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBAR | PAM |
|---|---|---|
| 2022 | +34.6% | +51.3% |
| 2023 | +47.3% | +55.0% |
| 2024 | +315.7% | +77.6% |
| 2025 | -5.2% | +0.6% |
| 2026 | -17.7% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBAR and PAM good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BBAR and PAM?
As of 2026-08-27, the correlation of weekly returns between BBAR and PAM is 0.75 over 3 years, 0.87 over 1 year and 0.70 over 5 years.
Is PAM a good diversifier for BBAR?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
A reading of 0.75 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/bbar-vs-pam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbar-vs-pam/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBAR correlations · PAM correlations
