BSAC vs EFA: Correlation
Measured on weekly returns over the past three years, Banco Santander - Chile (BSAC) and iShares MSCI EAFE ETF (EFA) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSAC and EFA?
On 3 years of weekly data the BSAC/EFA correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 212.1 %².
Within BSAC's tracked universe of 15 assets, EFA comes in at #5 by 3-year correlation. The last year tells two different stories: BSAC led by 32.6 percentage points, +54.5% for BSAC against +21.9% for EFA. One caveat on sizing: BSAC is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 EFA: side by side
| BSAC (Banco Santander - Chile) | EFA (iShares MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +54.5% | +21.9% |
| 5-year return | +119.0% | +56.7% |
| Volatility (ann.) | 25.9% | 14.9% |
| Beta vs S&P 500 | 0.63 | 0.77 |
| Max drawdown (3Y) | -18.4% | -14.1% |
| Market cap | $16.4B | – |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 0.00% | 3.19% |
| Expense ratio | – | 0.32% |
| Assets under management | – | $78.0B |
| Sector / category | US Listed | ETF · International |
EFA is a Foreign Large Blend fund from iShares: $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | BSAC | EFA |
|---|---|---|
| 2022 | +3.0% | -14.4% |
| 2023 | +31.7% | +18.4% |
| 2024 | +0.9% | +3.5% |
| 2025 | +74.3% | +31.5% |
| 2026 | +17.7% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSAC and EFA good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BSAC and EFA?
As of 2026-08-27, the correlation of weekly returns between BSAC and EFA is 0.55 over 3 years, 0.55 over 1 year and 0.44 over 5 years.
Is EFA a good diversifier for BSAC?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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.
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Related comparisons
Hubs: BSAC correlations · EFA correlations
