BPOP vs OFG: Correlation
Popular, Inc. (BPOP) and OFG Bancorp (OFG) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BPOP and OFG?
Across a 3-year window, the weekly returns of BPOP and OFG correlate at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 570.9 %².
Among the 12 assets we track against BPOP, OFG ranks #5 by 3-year correlation. The last year tells two different stories: BPOP led by 20.4 percentage points, +39.2% for BPOP against +18.8% for OFG.
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.
BPOP vs OFG: side by side
| BPOP (Popular, Inc.) | OFG (OFG Bancorp) | |
|---|---|---|
| 1-year return | +39.2% | +18.8% |
| 5-year return | +157.8% | +150.6% |
| Volatility (ann.) | 26.3% | 27.3% |
| Beta vs S&P 500 | 0.84 | 0.74 |
| Max drawdown (3Y) | -22.6% | -24.6% |
| Market cap | $10.8B | $2.2B |
| P/E (trailing) | 11.5 | 10.3 |
| Dividend yield | 1.77% | 2.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BPOP | OFG |
|---|---|---|
| 2022 | -16.8% | +6.5% |
| 2023 | +28.3% | +40.2% |
| 2024 | +17.9% | +15.8% |
| 2025 | +36.0% | -1.1% |
| 2026 | +37.8% | +29.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BPOP and OFG good diversifiers for each other?
No: a correlation of 0.80 means BPOP and OFG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BPOP and OFG?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.73 over the last year and 0.75 over 5 years.
Is OFG a good diversifier for BPOP?
No: a correlation of 0.80 means BPOP and OFG tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
A reading of 0.80 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BPOP correlations · OFG correlations
