MFG vs. SAN
MFG (Mizuho Financial Group, Inc.) and SAN (Banco Santander, S.A.) are both stocks. Both are in the Financial Services sector — MFG in Banks - Regional, SAN in Banks - Diversified. Over the past 10 years, MFG returned 15.22%/yr vs 18.27%/yr for SAN. At a 0.42 correlation, their price movements are largely independent.
Performance
MFG vs. SAN - Performance Comparison
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Returns By Period
In the year-to-date period, MFG achieves a 32.24% return, which is significantly higher than SAN's 17.37% return. Over the past 10 years, MFG has underperformed SAN with an annualized return of 15.22%, while SAN has yielded a comparatively higher 18.27% annualized return.
MFG
- 1D
- -4.63%
- 1M
- 3.86%
- YTD
- 32.24%
- 6M
- 29.76%
- 1Y
- 81.09%
- 3Y*
- 52.82%
- 5Y*
- 31.99%
- 10Y*
- 15.22%
SAN
- 1D
- -0.80%
- 1M
- 12.96%
- YTD
- 17.37%
- 6M
- 16.48%
- 1Y
- 74.35%
- 3Y*
- 65.80%
- 5Y*
- 32.15%
- 10Y*
- 18.27%
MFG vs. SAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFG Mizuho Financial Group, Inc. | 32.24% | 54.60% | 47.85% | 26.14% | 17.09% | 2.40% | -15.06% | 3.00% | -17.58% | 3.21% |
SAN Banco Santander, S.A. | 17.37% | 164.72% | 14.96% | 46.20% | -6.62% | 10.41% | -21.99% | -2.32% | -28.49% | 32.28% |
Correlation
The correlation between MFG and SAN is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2006 | 0.42 |
The correlation between MFG and SAN shifts across timeframes, from 0.41 (3 years) to 0.51 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
MFG:
$118.10B
SAN:
$199.62B
MFG:
¥101.00
SAN:
€1.06
MFG:
15.49
SAN:
11.20
MFG:
0.56
SAN:
0.59
MFG:
2.24
SAN:
2.43
MFG:
1.68
SAN:
1.65
MFG:
¥8.66T
SAN:
€74.92B
MFG:
¥4.12T
SAN:
€46.97B
MFG:
¥1.63T
SAN:
€21.14B
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Return for Risk
MFG vs. SAN — Risk / Return Rank
MFG
SAN
MFG vs. SAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mizuho Financial Group, Inc. (MFG) 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.
| MFG | SAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.35 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 3.68 | -0.39 |
| Martin ratioReturn relative to average drawdown | 8.73 | 11.37 | -2.64 |
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Drawdowns
MFG vs. SAN - Drawdown Comparison
The maximum MFG drawdown since its inception was -80.57%, roughly equal to the maximum SAN drawdown of -82.94%. Use the drawdown chart below to compare losses from any high point for MFG and SAN.
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Drawdown Indicators
| MFG | SAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.57% | -82.94% | +2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -24.78% | -20.29% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -28.33% | -20.29% | -8.04% |
Max Drawdown (5Y)Largest decline over 5 years | -28.33% | -41.13% | +12.80% |
Max Drawdown (10Y)Largest decline over 10 years | -49.87% | -73.84% | +23.97% |
Current DrawdownCurrent decline from peak | -6.02% | -0.80% | -5.22% |
Average DrawdownAverage peak-to-trough decline | -60.75% | -30.64% | -30.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.32% | 6.56% | +2.76% |
Volatility
MFG vs. SAN - Volatility Comparison
Mizuho Financial Group, Inc. (MFG) and Banco Santander, S.A. (SAN) have volatilities of 9.78% and 9.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFG | SAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.78% | 9.79% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 24.62% | 27.51% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.27% | 32.99% | -1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.77% | 33.90% | -4.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.53% | 35.21% | -8.68% |
Dividends
MFG vs. SAN - Dividend Comparison
MFG's dividend yield for the trailing twelve months is around 0.96%, less than SAN's 2.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFG Mizuho Financial Group, Inc. | 0.96% | 2.68% | 3.20% | 3.73% | 4.34% | 2.76% | 2.71% | 0.00% | 0.00% | 1.86% | 3.77% | 3.10% |
SAN Banco Santander, S.A. | 2.06% | 2.11% | 4.63% | 3.58% | 3.83% | 2.71% | 0.00% | 6.20% | 5.83% | 4.60% | 3.29% | 7.06% |
Financials
MFG vs. SAN - Financials Comparison
This section allows you to compare key financial metrics between Mizuho Financial Group, Inc. and Banco Santander, 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
MFG vs. SAN - Profitability Comparison
MFG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mizuho Financial Group, Inc. reported a gross profit of 1.17T and revenue of 2.27T. Therefore, the gross margin over that period was 51.7%.
SAN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a gross profit of 12.95B and revenue of 31.44B. Therefore, the gross margin over that period was 41.2%.
MFG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mizuho Financial Group, Inc. reported an operating income of 304.56B and revenue of 2.27T, resulting in an operating margin of 13.4%.
SAN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported an operating income of 5.11B and revenue of 31.44B, resulting in an operating margin of 16.3%.
MFG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mizuho Financial Group, Inc. reported a net income of 232.94B and revenue of 2.27T, resulting in a net margin of 10.3%.
SAN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a net income of 5.54B and revenue of 31.44B, resulting in a net margin of 17.6%.
Frequently Asked Questions
MFG and SAN have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (9.79%) compared to MFG (9.78%). In terms of maximum drawdown, MFG dropped -80.57% vs SAN's -82.94%.
MFG currently has the higher Sharpe Ratio (2.61 vs 2.27), 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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