BSAC vs CCU: Correlation
How closely do Banco Santander - Chile (BSAC) and Compania Cervecerias Unidas, S.A. (CCU) 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 BSAC and CCU?
On 3 years of weekly data the BSAC/CCU correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.62 over 1 year against 0.57 over 3. The 5-year figure is 0.51, and annualized covariance runs at 416.4 %².
In BSAC's tracked universe of 15 assets, CCU sits right near the top at #3. The last year tells two different stories: BSAC led by 53.7 percentage points, +54.5% for BSAC against +0.8% for CCU.
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.
BSAC vs CCU: side by side
| BSAC (Banco Santander - Chile) | CCU (Compania Cervecerias Unidas, S.A.) | |
|---|---|---|
| 1-year return | +54.5% | +0.8% |
| 5-year return | +119.0% | -22.7% |
| Volatility (ann.) | 25.9% | 28.3% |
| Beta vs S&P 500 | 0.63 | 0.60 |
| Max drawdown (3Y) | -18.4% | -30.8% |
| Market cap | $16.4B | – |
| P/E (trailing) | 13.4 | 20.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSAC | CCU |
|---|---|---|
| 2022 | +3.0% | -15.0% |
| 2023 | +31.7% | -2.5% |
| 2024 | +0.9% | -6.2% |
| 2025 | +74.3% | +14.2% |
| 2026 | +17.7% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSAC and CCU good diversifiers for each other?
To a limited degree. At 0.57 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 BSAC and CCU?
The BSAC/CCU correlation stands at 0.57 on a 3-year window (1 year: 0.62, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is CCU a good diversifier for BSAC?
To a limited degree. At 0.57 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 0.57 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/bsac-vs-ccu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsac-vs-ccu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BSAC correlations · CCU correlations
