^IBEX vs. SAN
^IBEX (IBEX 35 Index) is an index, while SAN (Banco Santander, S.A.) is a stock. Over the past 10 years, ^IBEX returned 9.09%/yr vs 17.88%/yr for SAN. Their 0.70 correlation means they have sometimes moved together and sometimes differently.
Performance
^IBEX vs. SAN - Performance Comparison
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Different Trading Currencies
^IBEX is traded in EUR, while SAN is traded in USD. To make them comparable, the SAN values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^IBEX achieves a 14.15% return, which is significantly lower than SAN's 23.99% return. Over the past 10 years, ^IBEX has underperformed SAN with an annualized return of 9.09%, while SAN has yielded a comparatively higher 17.88% annualized return.
^IBEX
- 1D
- 0.00%
- 1M
- -0.48%
- 6M
- 10.50%
- YTD
- 14.15%
- 1Y
- 39.86%
- 3Y*
- 27.63%
- 5Y*
- 17.89%
- 10Y*
- 9.09%
- ALL TIME*
- 6.06%
SAN
- 1D
- -0.08%
- 1M
- 0.25%
- 6M
- 15.07%
- YTD
- 23.99%
- 1Y
- 73.00%
- 3Y*
- 56.52%
- 5Y*
- 36.47%
- 10Y*
- 17.88%
- ALL TIME*
- 4.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^IBEX IBEX 35 Index | €213.10B | €96.87B | €32.79B |
| €123.15M | €115.29M | €100.08M |
^IBEX vs. SAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^IBEX IBEX 35 Index | 14.15% | 49.27% | 14.78% | 22.76% | -5.56% | 7.93% | -15.45% | 11.82% | -14.97% | 7.40% |
SAN Banco Santander, S.A. | 23.99% | 133.31% | 22.55% | 41.82% | -0.84% | 18.67% | -28.42% | -0.11% | -25.13% | 16.02% |
Correlation
The correlation between ^IBEX and SAN is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2007 | 0.70 |
The correlation between ^IBEX and SAN has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
^IBEX vs. SAN — Risk / Return Rank
^IBEX
SAN
^IBEX vs. SAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IBEX 35 Index (^IBEX) and Banco Santander, S.A. (SAN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^IBEX | SAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.33 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 3.57 | +0.24 |
| Martin ratioReturn relative to average drawdown | 12.72 | 11.24 | +1.47 |
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Drawdowns
^IBEX vs. SAN - Drawdown Comparison
The maximum ^IBEX drawdown since its inception was -62.65%, smaller than the maximum SAN drawdown of -77.95%. Use the drawdown chart below to compare losses from any high point for ^IBEX and SAN.
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Drawdown Indicators
| ^IBEX | SAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.65% | -77.95% | +15.30% |
Max Drawdown (1Y)Largest decline over 1 year | -9.64% | -18.63% | +8.99% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -20.35% | +7.75% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -32.52% | +11.59% |
Max Drawdown (10Y)Largest decline over 10 years | -45.16% | -72.48% | +27.32% |
Current DrawdownCurrent decline from peak | -0.48% | -2.60% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -29.17% | -36.23% | +7.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 5.92% | -3.02% |
Volatility
^IBEX vs. SAN - Volatility Comparison
The current volatility for IBEX 35 Index (^IBEX) is 5.06%, while Banco Santander, S.A. (SAN) has a volatility of 11.46%. This indicates that ^IBEX experiences smaller price fluctuations and is considered to be less risky than SAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^IBEX | SAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 11.46% | -6.40% |
Volatility (6M)Calculated over the trailing 6-month period | 14.03% | 27.57% | -13.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.37% | 32.30% | -15.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 31.66% | -15.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.96% | 33.97% | -16.01% |
Frequently Asked Questions
^IBEX and SAN have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (11.46%) compared to ^IBEX (5.06%). In terms of maximum drawdown, ^IBEX dropped -62.65% vs SAN's -77.95%.
^IBEX currently has the higher Sharpe Ratio (2.24 vs 2.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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