CRESY vs. BMA

Last updated Jun 4, 2026

CRESY (Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria) and BMA (Banco Macro S.A.) are both stocks. CRESY operates in Conglomerates (Industrials), while BMA operates in Banks - Regional (Financial Services). Over the past 10 years, CRESY returned 3.97%/yr vs 7.34%/yr for BMA. At a 0.43 correlation, their price movements are largely independent.

Performance

CRESY vs. BMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) and Banco Macro S.A. (BMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRESY achieves a -11.64% return, which is significantly lower than BMA's -1.28% return. Over the past 10 years, CRESY has underperformed BMA with an annualized return of 3.97%, while BMA has yielded a comparatively higher 7.34% annualized return.

CRESY

• 1D: -3.88%
• 1M: 0.54%
• YTD: -11.64%
• 6M: -4.94%
• 1Y: 0.89%
• 3Y*: 31.86%
• 5Y*: 19.74%
• 10Y*: 3.97%

BMA

• 1D: -3.20%
• 1M: 25.91%
• YTD: -1.28%
• 6M: 1.44%
• 1Y: 12.41%
• 3Y*: 83.19%
• 5Y*: 47.44%
• 10Y*: 7.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CRESY vs. BMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRESY Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria	-11.64%	8.03%	46.53%	73.99%	45.48%	-1.46%	-31.96%	-40.52%	-42.64%	42.79%
BMA Banco Macro S.A.	-1.28%	-3.55%	277.79%	91.62%	27.04%	-9.96%	-57.05%	-14.00%	-60.72%	81.54%

Correlation

The correlation between CRESY and BMA is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006	0.43

Over the past year, CRESY and BMA have become more correlated (0.68) than their long-term average of 0.43, meaning their price movements have been converging.

Fundamentals

Market Cap CRESY : $714.62M BMA : $5.51B
EPS CRESY : $2.87K BMA : $5.81K
PE Ratio CRESY : 0.00 BMA : 0.01
PEG Ratio CRESY : 0.00 BMA : 0.00
PS Ratio CRESY : 0.00 BMA : 0.00
PB Ratio CRESY : 0.00 BMA : 0.00
Total Revenue (TTM) CRESY : $1.11T BMA : $4.76T
Gross Profit (TTM) CRESY : $467.81B BMA : $2.84T
EBITDA (TTM) CRESY : $303.50B BMA : $751.84B

Return for Risk

CRESY vs. BMA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CRESY

CRESY Risk / Return Rank: 40
CRESY Sharpe Ratio Rank: 41
CRESY Sortino Ratio Rank: 40
CRESY Omega Ratio Rank: 39
CRESY Calmar Ratio Rank: 41
CRESY Martin Ratio Rank: 40

BMA

BMA Risk / Return Rank: 48
BMA Sharpe Ratio Rank: 47
BMA Sortino Ratio Rank: 51
BMA Omega Ratio Rank: 49
BMA Calmar Ratio Rank: 46
BMA Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CRESY vs. BMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) and Banco Macro S.A. (BMA). 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.

	CRESY	BMA	Difference
Sharpe ratio Return per unit of total volatility	0.02	0.17	-0.15
Sortino ratio Return per unit of downside risk	0.43	0.89	-0.46
Omega ratio Gain probability vs. loss probability	1.05	1.11	-0.06
Calmar ratio Return relative to maximum drawdown	0.03	0.25	-0.22
Martin ratio Return relative to average drawdown	0.06	0.56	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRESY vs. BMA - Sharpe Ratio Comparison

The current CRESY Sharpe Ratio is 0.02, which is lower than the BMA Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of CRESY and BMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CRESY	BMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.02	0.17	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.80	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	0.12	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.19	-0.16

Drawdowns

CRESY vs. BMA - Drawdown Comparison

The maximum CRESY drawdown since its inception was -88.67%, roughly equal to the maximum BMA drawdown of -91.66%. Use the drawdown chart below to compare losses from any high point for CRESY and BMA.

Drawdown Indicators

	CRESY	BMA	Difference
Max Drawdown Largest peak-to-trough decline	-88.67%	-91.66%	+2.99%
Max Drawdown (1Y) Largest decline over 1 year	-28.70%	-48.89%	+20.19%
Max Drawdown (3Y) Largest decline over 3 years	-39.92%	-65.40%	+25.48%
Max Drawdown (5Y) Largest decline over 5 years	-55.88%	-65.40%	+9.52%
Max Drawdown (10Y) Largest decline over 10 years	-88.67%	-91.66%	+2.99%
Current Drawdown Current decline from peak	-20.91%	-20.47%	-0.44%
Average Drawdown Average peak-to-trough decline	-45.85%	-44.86%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.42%	23.24%	-8.82%

Volatility

CRESY vs. BMA - Volatility Comparison

The current volatility for Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) is 12.79%, while Banco Macro S.A. (BMA) has a volatility of 18.86%. This indicates that CRESY experiences smaller price fluctuations and is considered to be less risky than BMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRESY	BMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.79%	18.86%	-6.07%
Volatility (6M) Calculated over the trailing 6-month period	27.19%	38.51%	-11.32%
Volatility (1Y) Calculated over the trailing 1-year period	49.02%	73.94%	-24.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.43%	59.43%	-9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.09%	62.25%	-9.16%

Dividends

CRESY vs. BMA - Dividend Comparison

CRESY's dividend yield for the trailing twelve months is around 5.64%, more than BMA's 5.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BMA Banco Macro S.A.	5.56%	2.38%	6.10%	7.75%	7.28%	0.00%	0.00%	6.20%	5.05%	0.65%	1.53%
CRESY Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria	5.64%	4.98%	7.86%	7.32%	2.30%	0.00%	0.00%	0.00%	0.00%	1.95%	6.39%

Financials

CRESY vs. BMA - Profitability Comparison

The chart below illustrates the profitability comparison between Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria and Banco Macro S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CRESY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria reported a gross profit of 117.98B and revenue of 252.69B. Therefore, the gross margin over that period was 46.7%.

BMA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Macro S.A. reported a gross profit of 1.17T and revenue of 1.91T. Therefore, the gross margin over that period was 61.1%.

CRESY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria reported an operating income of 45.85B and revenue of 252.69B, resulting in an operating margin of 18.2%.

BMA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Macro S.A. reported an operating income of 212.69B and revenue of 1.91T, resulting in an operating margin of 11.2%.

CRESY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria reported a net income of 40.19B and revenue of 252.69B, resulting in a net margin of 15.9%.

BMA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Macro S.A. reported a net income of 140.24B and revenue of 1.91T, resulting in a net margin of 7.4%.

Frequently Asked Questions

Can I hold both CRESY and BMA in my portfolio?

CRESY and BMA have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRESY or BMA?

BMA has higher volatility (18.86%) compared to CRESY (12.79%). In terms of maximum drawdown, CRESY dropped -88.67% vs BMA's -91.66%.

Which has better risk-adjusted returns?

BMA currently has the higher Sharpe Ratio (0.17 vs 0.02), 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.