BBVA vs DB: Correlation
How closely do Banco Bilbao Vizcaya Argentaria S.A. (BBVA) and Deutsche Bank AG (DB) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBVA and DB?
Across a 3-year window, the weekly returns of BBVA and DB correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 674.3 %².
In BBVA's tracked universe of 12 assets, DB sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months BBVA outperformed by 49.3 percentage points (+67.8% for BBVA against +18.5% for DB).
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.
BBVA vs DB: side by side
| BBVA (Banco Bilbao Vizcaya Argentaria S.A.) | DB (Deutsche Bank AG) | |
|---|---|---|
| 1-year return | +67.8% | +18.5% |
| 5-year return | +503.8% | +278.5% |
| Volatility (ann.) | 29.9% | 32.7% |
| Beta vs S&P 500 | 0.88 | 1.08 |
| Max drawdown (3Y) | -22.1% | -29.7% |
| Market cap | $158.3B | $75.3B |
| P/E (trailing) | 13.2 | 10.5 |
| Dividend yield | 2.07% | 2.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBVA | DB |
|---|---|---|
| 2022 | +10.1% | -5.9% |
| 2023 | +62.5% | +21.3% |
| 2024 | +14.2% | +29.5% |
| 2025 | +154.0% | +132.4% |
| 2026 | +26.9% | +7.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBVA and DB good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BBVA and DB?
As of 2026-08-27, the correlation of weekly returns between BBVA and DB is 0.69 over 3 years, 0.77 over 1 year and 0.67 over 5 years.
Is DB a good diversifier for BBVA?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 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/bbva-vs-db.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbva-vs-db/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBVA correlations · DB correlations
