BCH vs XP: Correlation
How closely do Banco De Chile (BCH) and XP Inc. (XP) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCH and XP?
On 3 years of weekly data the BCH/XP correlation comes out at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 575.1 %².
By 3-year correlation, XP places #5 of the 15 assets tracked against BCH. Their recent paths diverged sharply: over the last 12 months BCH outperformed by 49.6 percentage points (+55.4% for BCH against +5.8% for XP). Note the risk asymmetry: XP 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 XP: side by side
| BCH (Banco De Chile) | XP (XP Inc.) | |
|---|---|---|
| 1-year return | +55.4% | +5.8% |
| 5-year return | +219.8% | -58.9% |
| Volatility (ann.) | 24.6% | 41.0% |
| Beta vs S&P 500 | 0.63 | 1.18 |
| Max drawdown (3Y) | -20.0% | -56.6% |
| Market cap | $21.0B | $9.0B |
| P/E (trailing) | 15.8 | 9.0 |
| Dividend yield | 0.00% | 11.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCH | XP |
|---|---|---|
| 2022 | +41.2% | -46.6% |
| 2023 | +23.4% | +79.6% |
| 2024 | +6.1% | -52.2% |
| 2025 | +81.2% | +39.5% |
| 2026 | +16.1% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCH and XP good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BCH and XP?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.56 over the last year and 0.32 over 5 years.
Is XP a good diversifier for BCH?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bch-vs-xp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bch-vs-xp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCH correlations · XP correlations
