IBOC vs. CVCO

Last updated Jul 11, 2026

IBOC (International Bancshares Corporation) and CVCO (Cavco Industries, Inc.) are both stocks. IBOC operates in Banks - Regional (Financial Services), while CVCO operates in Residential Construction (Consumer Cyclical). Over the past 10 years, IBOC returned 13.53%/yr vs 18.84%/yr for CVCO. At a 0.43 correlation, their price movements are largely independent.

Performance

IBOC vs. CVCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in International Bancshares Corporation (IBOC) and Cavco Industries, Inc. (CVCO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBOC achieves a 14.67% return, which is significantly higher than CVCO's -6.04% return. Over the past 10 years, IBOC has underperformed CVCO with an annualized return of 13.53%, while CVCO has yielded a comparatively higher 18.84% annualized return.

IBOC

• 1D: 0.36%
• 1M: -1.45%
• 6M: 9.06%
• YTD: 14.67%
• 1Y: 10.93%
• 3Y*: 21.49%
• 5Y*: 15.79%
• 10Y*: 13.53%

CVCO

• 1D: -2.15%
• 1M: -6.36%
• 6M: -18.01%
• YTD: -6.04%
• 1Y: 23.39%
• 3Y*: 22.94%
• 5Y*: 21.20%
• 10Y*: 18.84%

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

IBOC vs. CVCO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBOC International Bancshares Corporation	14.67%	7.41%	19.11%	21.97%	10.94%	16.51%	-9.51%	28.67%	-11.78%	-0.96%
CVCO Cavco Industries, Inc.	-6.04%	32.38%	28.74%	53.20%	-28.77%	81.05%	-10.20%	49.85%	-14.56%	52.83%

Correlation

The correlation between IBOC and CVCO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 1, 2003	0.43

The correlation between IBOC and CVCO shifts across timeframes, from 0.34 (1 year) to 0.49 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap IBOC : $4.69B CVCO : $4.28B
EPS IBOC : $10.06 CVCO : $24.00
PE Ratio IBOC : 7.49 CVCO : 23.12
PEG Ratio IBOC : 0.52 CVCO : 3.99
PS Ratio IBOC : 3.89 CVCO : 1.96
Total Revenue (TTM) IBOC : $804.91M CVCO : $2.24B
Gross Profit (TTM) IBOC : $632.71M CVCO : $526.89M
EBITDA (TTM) IBOC : $416.98M CVCO : $248.96M

Return for Risk

IBOC vs. CVCO — Risk / Return Rank

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

IBOC

IBOC Risk / Return Rank: 58
IBOC Sharpe Ratio Rank: 60
IBOC Sortino Ratio Rank: 53
IBOC Omega Ratio Rank: 52
IBOC Calmar Ratio Rank: 62
IBOC Martin Ratio Rank: 63

CVCO

CVCO Risk / Return Rank: 60
CVCO Sharpe Ratio Rank: 63
CVCO Sortino Ratio Rank: 58
CVCO Omega Ratio Rank: 60
CVCO Calmar Ratio Rank: 61
CVCO Martin Ratio Rank: 60

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.

IBOC vs. CVCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for International Bancshares Corporation (IBOC) and Cavco Industries, Inc. (CVCO). 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.

	IBOC	CVCO	Difference
Sharpe ratio: Return per unit of total volatility	0.41	0.51	-0.09
Sortino ratio: Return per unit of downside risk	0.73	0.93	-0.20
Omega ratio: Gain probability vs. loss probability	1.09	1.14	-0.05
Calmar ratio: Return relative to maximum drawdown	0.75	0.68	+0.07
Martin ratio: Return relative to average drawdown	1.78	1.39	+0.39

IBOC vs. CVCO - Sharpe Ratio Comparison

The current IBOC Sharpe Ratio is 0.41, which is comparable to the CVCO Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of IBOC and CVCO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBOC vs. CVCO - Drawdown Comparison

The maximum IBOC drawdown since its inception was -77.43%, which is greater than CVCO's maximum drawdown of -60.85%. Use the drawdown chart below to compare losses from any high point for IBOC and CVCO.

Drawdown Indicators

	IBOC	CVCO	Difference
Max Drawdown Largest peak-to-trough decline	-77.43%	-60.85%	-16.58%
Max Drawdown (1Y) Largest decline over 1 year	-12.74%	-34.68%	+21.94%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-34.68%	+10.59%
Max Drawdown (5Y) Largest decline over 5 years	-24.09%	-43.23%	+19.14%
Max Drawdown (10Y) Largest decline over 10 years	-63.37%	-57.89%	-5.48%
Current Drawdown Current decline from peak	-3.08%	-20.45%	+17.37%
Average Drawdown Average peak-to-trough decline	-16.70%	-16.69%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.35%	16.84%	-11.49%

Volatility

IBOC vs. CVCO - Volatility Comparison

The current volatility for International Bancshares Corporation (IBOC) is 5.95%, while Cavco Industries, Inc. (CVCO) has a volatility of 11.25%. This indicates that IBOC experiences smaller price fluctuations and is considered to be less risky than CVCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBOC	CVCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	11.25%	-5.30%
Volatility (6M) Calculated over the trailing 6-month period	16.07%	37.34%	-21.27%
Volatility (1Y) Calculated over the trailing 1-year period	23.16%	46.56%	-23.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.18%	41.01%	-12.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.03%	43.73%	-9.70%

Dividends

IBOC vs. CVCO - Dividend Comparison

IBOC's dividend yield for the trailing twelve months is around 1.90%, while CVCO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVCO Cavco Industries, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBOC International Bancshares Corporation	1.90%	2.11%	2.09%	2.32%	2.62%	2.71%	2.94%	2.44%	2.18%	1.66%	1.47%	2.26%

Financials

Frequently Asked Questions

Can I hold both IBOC and CVCO in my portfolio?

IBOC and CVCO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBOC or CVCO?

CVCO has higher volatility (11.25%) compared to IBOC (5.95%). In terms of maximum drawdown, IBOC dropped -77.43% vs CVCO's -60.85%.

Which has better risk-adjusted returns?

CVCO currently has the higher Sharpe Ratio (0.51 vs 0.41), 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.