HBNC vs. BMA
HBNC (Horizon Bancorp, Inc.) and BMA (Banco Macro S.A.) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, HBNC returned 9.18%/yr vs 7.23%/yr for BMA. Their 0.16 correlation means their historical movements had little consistent relationship.
Performance
HBNC vs. BMA - Performance Comparison
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Returns By Period
In the year-to-date period, HBNC achieves a 23.87% return, which is significantly higher than BMA's 5.94% return. Over the past 10 years, HBNC has outperformed BMA with an annualized return of 9.18%, while BMA has yielded a comparatively lower 7.23% annualized return.
HBNC
- 1D
- -0.63%
- 1M
- 3.39%
- 6M
- 18.10%
- YTD
- 23.87%
- 1Y
- 41.38%
- 3Y*
- 24.42%
- 5Y*
- 8.70%
- 10Y*
- 9.18%
- ALL TIME*
- 10.78%
BMA
- 1D
- -2.47%
- 1M
- 2.44%
- 6M
- -6.61%
- YTD
- 5.94%
- 1Y
- 45.12%
- 3Y*
- 66.06%
- 5Y*
- 57.72%
- 10Y*
- 7.23%
- ALL TIME*
- 11.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.59M | $20.98M | $24.29M | |
| $16.16M | $13.52M | $11.83M |
HBNC vs. BMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBNC Horizon Bancorp, Inc. | 23.87% | 9.76% | 18.19% | 0.43% | -25.26% | 35.43% | -12.86% | 23.69% | -13.14% | 1.06% |
BMA Banco Macro S.A. | 5.94% | -3.55% | 277.79% | 91.62% | 27.04% | -9.96% | -57.05% | -14.00% | -60.72% | 81.54% |
Correlation
The correlation between HBNC and BMA is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2006 | 0.16 |
Fundamentals
HBNC:
$1.05B
BMA:
$5.88B
HBNC:
-$2.86
BMA:
ARS 5.81K
HBNC:
0.56
BMA:
1.49
HBNC:
-$5.09M
BMA:
ARS 4.76T
HBNC:
-$86.58M
BMA:
ARS 2.84T
HBNC:
-$210.22M
BMA:
ARS 751.84B
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Return for Risk
HBNC vs. BMA — Risk / Return Rank
HBNC
BMA
HBNC vs. BMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Bancorp, Inc. (HBNC) 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.
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.
| HBNC | BMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.17 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 0.86 | +1.37 |
| Martin ratioReturn relative to average drawdown | 6.70 | 1.91 | +4.79 |
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Drawdowns
HBNC vs. BMA - Drawdown Comparison
The maximum HBNC drawdown since its inception was -65.21%, smaller than the maximum BMA drawdown of -91.66%. Use the drawdown chart below to compare losses from any high point for HBNC and BMA.
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Drawdown Indicators
| HBNC | BMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.21% | -91.66% | +26.45% |
Max Drawdown (1Y)Largest decline over 1 year | -16.65% | -47.38% | +30.73% |
Max Drawdown (3Y)Largest decline over 3 years | -29.61% | -65.40% | +35.79% |
Max Drawdown (5Y)Largest decline over 5 years | -65.21% | -65.40% | +0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -65.21% | -91.66% | +26.45% |
Current DrawdownCurrent decline from peak | -1.26% | -14.66% | +13.40% |
Average DrawdownAverage peak-to-trough decline | -17.05% | -44.61% | +27.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 21.35% | -15.81% |
Volatility
HBNC vs. BMA - Volatility Comparison
The current volatility for Horizon Bancorp, Inc. (HBNC) is 6.41%, while Banco Macro S.A. (BMA) has a volatility of 16.58%. This indicates that HBNC 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.
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Volatility by Period
| HBNC | BMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 16.58% | -10.17% |
Volatility (6M)Calculated over the trailing 6-month period | 17.05% | 40.83% | -23.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.32% | 75.00% | -47.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.54% | 59.88% | -24.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.88% | 62.53% | -25.65% |
Dividends
HBNC vs. BMA - Dividend Comparison
HBNC's dividend yield for the trailing twelve months is around 3.13%, less than BMA's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMA Banco Macro S.A. | 5.35% | 2.38% | 6.10% | 7.75% | 7.28% | 0.00% | 0.00% | 6.20% | 5.05% | 0.65% | 1.53% | 0.00% |
HBNC Horizon Bancorp, Inc. | 3.13% | 3.77% | 3.97% | 4.47% | 4.11% | 2.54% | 3.03% | 2.32% | 2.45% | 1.73% | 1.43% | 1.54% |
Financials
HBNC vs. BMA - Financials Comparison
This section allows you to compare key financial metrics between Horizon Bancorp, Inc. and Banco Macro S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
HBNC and BMA have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMA has higher volatility (16.58%) compared to HBNC (6.41%). In terms of maximum drawdown, HBNC dropped -65.21% vs BMA's -91.66%.
HBNC currently has the higher Sharpe Ratio (1.36 vs 0.54), 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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