BCS vs SAN: Correlation
Barclays PLC (BCS) and Banco Santander, S.A. Sponsored ADR (Spain) (SAN) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCS and SAN?
On 3 years of weekly data the BCS/SAN correlation comes out at 0.73, strong. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 656.3 %².
SAN is one of the assets that tracks BCS most closely: it ranks #1 out of the 15 assets we track against BCS. Correlation aside, the last 12 months split them widely, with SAN ahead by 20.6 points (+36.6% versus +57.2%).
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.
BCS vs SAN: side by side
| BCS (Barclays PLC) | SAN (Banco Santander, S.A. Sponsored ADR (Spain)) | |
|---|---|---|
| 1-year return | +36.6% | +57.2% |
| 5-year return | +214.7% | +366.8% |
| Volatility (ann.) | 30.9% | 29.2% |
| Beta vs S&P 500 | 1.27 | 1.01 |
| Max drawdown (3Y) | -26.2% | -20.3% |
| Market cap | $90.3B | $211.5B |
| P/E (trailing) | 10.3 | 14.1 |
| Dividend yield | 0.42% | 0.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCS | SAN |
|---|---|---|
| 2022 | -21.9% | -6.6% |
| 2023 | +6.0% | +46.2% |
| 2024 | +76.3% | +15.1% |
| 2025 | +96.5% | +161.6% |
| 2026 | +8.0% | +25.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCS and SAN good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BCS and SAN?
As of 2026-08-27, the correlation of weekly returns between BCS and SAN is 0.73 over 3 years, 0.82 over 1 year and 0.71 over 5 years.
Is SAN a good diversifier for BCS?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/bcs-vs-san.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcs-vs-san/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCS correlations · SAN correlations
