SAN vs. JPM
SAN (Banco Santander, S.A.) and JPM (JPMorgan Chase & Co.) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, SAN returned 18.27%/yr vs 22.02%/yr for JPM. At a 0.43 correlation, their price movements are largely independent.
Performance
SAN vs. JPM - Performance Comparison
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Returns By Period
In the year-to-date period, SAN achieves a 17.37% return, which is significantly higher than JPM's 4.70% return. Over the past 10 years, SAN has underperformed JPM with an annualized return of 18.27%, while JPM has yielded a comparatively higher 22.02% annualized return.
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%
JPM
- 1D
- 0.80%
- 1M
- 9.06%
- YTD
- 4.70%
- 6M
- 3.51%
- 1Y
- 22.41%
- 3Y*
- 37.10%
- 5Y*
- 19.98%
- 10Y*
- 22.02%
SAN vs. JPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
JPM JPMorgan Chase & Co. | 4.70% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
Correlation
The correlation between SAN and JPM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 1988 | 0.43 |
The correlation between SAN and JPM shifts across timeframes, from 0.40 (3 years) to 0.56 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
SAN:
$199.62B
JPM:
$933.49B
SAN:
€1.06
JPM:
$21.08
SAN:
11.20
JPM:
15.85
SAN:
0.59
JPM:
1.75
SAN:
2.43
JPM:
3.27
SAN:
1.65
JPM:
2.71
SAN:
€74.92B
JPM:
$285.09B
SAN:
€46.97B
JPM:
$173.52B
SAN:
€21.14B
JPM:
$81.46B
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Return for Risk
SAN vs. JPM — Risk / Return Rank
SAN
JPM
SAN vs. JPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) and JPMorgan Chase & Co. (JPM). 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.
| SAN | JPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.19 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 1.46 | +2.23 |
| Martin ratioReturn relative to average drawdown | 11.37 | 3.43 | +7.94 |
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Drawdowns
SAN vs. JPM - Drawdown Comparison
The maximum SAN drawdown since its inception was -82.94%, which is greater than JPM's maximum drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for SAN and JPM.
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Drawdown Indicators
| SAN | JPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.94% | -76.16% | -6.78% |
Max Drawdown (1Y)Largest decline over 1 year | -20.29% | -15.47% | -4.82% |
Max Drawdown (3Y)Largest decline over 3 years | -20.29% | -24.42% | +4.13% |
Max Drawdown (5Y)Largest decline over 5 years | -41.13% | -38.77% | -2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -73.84% | -43.63% | -30.21% |
Current DrawdownCurrent decline from peak | -0.80% | 0.00% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -30.64% | -17.61% | -13.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.56% | 6.55% | +0.01% |
Volatility
SAN vs. JPM - Volatility Comparison
Banco Santander, S.A. (SAN) has a higher volatility of 9.79% compared to JPMorgan Chase & Co. (JPM) at 7.34%. This indicates that SAN's price experiences larger fluctuations and is considered to be riskier than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAN | JPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.79% | 7.34% | +2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 27.51% | 17.14% | +10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.99% | 22.12% | +10.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.90% | 24.47% | +9.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.21% | 27.35% | +7.86% |
Dividends
SAN vs. JPM - Dividend Comparison
SAN's dividend yield for the trailing twelve months is around 2.06%, more than JPM's 1.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPM JPMorgan Chase & Co. | 1.77% | 1.72% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% |
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
SAN vs. JPM - Financials Comparison
This section allows you to compare key financial metrics between Banco Santander, S.A. and JPMorgan Chase & Co.. 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
SAN vs. JPM - Profitability Comparison
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%.
JPM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported a gross profit of 47.33B and revenue of 73.66B. Therefore, the gross margin over that period was 64.3%.
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%.
JPM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported an operating income of 20.48B and revenue of 73.66B, resulting in an operating margin of 27.8%.
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%.
JPM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported a net income of 16.49B and revenue of 73.66B, resulting in a net margin of 22.4%.
Frequently Asked Questions
SAN and JPM have a correlation of 0.43, 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 JPM (7.34%). In terms of maximum drawdown, SAN dropped -82.94% vs JPM's -76.16%.
SAN currently has the higher Sharpe Ratio (2.27 vs 1.02), 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.
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