BCH vs PAGS: Correlation
Measured on weekly returns over the past three years, Banco De Chile (BCH) and PagSeguro Digital Ltd. Class A (PAGS) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCH and PAGS?
Over the past 3 years, BCH and PAGS moved with a correlation of 0.50, which is moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 514.6 %².
Within BCH's tracked universe of 15 assets, PAGS comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BCH outperformed by 49.8 percentage points (+55.4% for BCH against +5.6% for PAGS). Note the risk asymmetry: PAGS runs 1.7 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.
BCH vs PAGS: side by side
| BCH (Banco De Chile) | PAGS (PagSeguro Digital Ltd. Class A) | |
|---|---|---|
| 1-year return | +55.4% | +5.6% |
| 5-year return | +219.8% | -84.4% |
| Volatility (ann.) | 24.6% | 42.1% |
| Beta vs S&P 500 | 0.63 | 1.17 |
| Max drawdown (3Y) | -20.0% | -57.6% |
| Market cap | $21.0B | $2.5B |
| P/E (trailing) | 15.8 | 6.2 |
| Dividend yield | 0.00% | 14.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCH | PAGS |
|---|---|---|
| 2022 | +41.2% | -66.7% |
| 2023 | +23.4% | +42.7% |
| 2024 | +6.1% | -49.8% |
| 2025 | +81.2% | +58.7% |
| 2026 | +16.1% | -5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCH and PAGS good diversifiers for each other?
Only partially. A correlation of 0.50 means BCH and PAGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BCH and PAGS?
As of 2026-08-27, the correlation of weekly returns between BCH and PAGS is 0.50 over 3 years, 0.55 over 1 year and 0.35 over 5 years.
Is PAGS a good diversifier for BCH?
Only partially. A correlation of 0.50 means BCH and PAGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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/bch-vs-pags.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bch-vs-pags/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCH correlations · PAGS correlations
