BBVA vs VEA: Correlation
Banco Bilbao Vizcaya Argentaria S.A. (BBVA) and Vanguard FTSE Developed Markets ETF (VEA) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBVA and VEA?
Across a 3-year window, the weekly returns of BBVA and VEA correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 279.6 %².
Within BBVA's tracked universe of 12 assets, VEA comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BBVA ahead by 39.3 points (+67.8% versus +28.5%). Risk is not evenly split, since BBVA carries 2.0 times the volatility of the other side.
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 VEA: side by side
| BBVA (Banco Bilbao Vizcaya Argentaria S.A.) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +67.8% | +28.5% |
| 5-year return | +503.8% | +63.5% |
| Volatility (ann.) | 29.9% | 15.1% |
| Beta vs S&P 500 | 0.88 | 0.79 |
| Max drawdown (3Y) | -22.1% | -13.5% |
| Market cap | $158.3B | – |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 2.07% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | BBVA | VEA |
|---|---|---|
| 2022 | +10.1% | -15.3% |
| 2023 | +62.5% | +17.9% |
| 2024 | +14.2% | +3.1% |
| 2025 | +154.0% | +35.2% |
| 2026 | +26.9% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
BBVA represents 0.5% of VEA's portfolio, so part of any move in VEA is BBVA itself, and the correlation between them is partly mechanical.
Are BBVA and VEA good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BBVA and VEA?
The BBVA/VEA correlation stands at 0.62 on a 3-year window (1 year: 0.67, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is VEA a good diversifier for BBVA?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbva-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bbva-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBVA correlations · VEA correlations
