SAN vs. VLO
SAN (Banco Santander, S.A.) and VLO (Valero Energy Corporation) are both stocks. SAN operates in Banks - Diversified (Financial Services), while VLO operates in Oil & Gas Refining & Marketing (Energy). Over the past 10 years, SAN returned 16.53%/yr vs 20.94%/yr for VLO. At a 0.26 correlation, their price movements are largely independent.
Performance
SAN vs. VLO - Performance Comparison
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Returns By Period
In the year-to-date period, SAN achieves a 16.51% return, which is significantly lower than VLO's 46.74% return. Over the past 10 years, SAN has underperformed VLO with an annualized return of 16.53%, while VLO has yielded a comparatively higher 20.94% annualized return.
SAN
- 1D
- 1.28%
- 1M
- 9.05%
- YTD
- 16.51%
- 6M
- 16.81%
- 1Y
- 72.42%
- 3Y*
- 62.67%
- 5Y*
- 32.61%
- 10Y*
- 16.53%
VLO
- 1D
- -1.45%
- 1M
- -6.44%
- YTD
- 46.74%
- 6M
- 46.81%
- 1Y
- 73.82%
- 3Y*
- 31.15%
- 5Y*
- 29.68%
- 10Y*
- 20.94%
SAN vs. VLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAN Banco Santander, S.A. | 16.51% | 164.72% | 14.96% | 46.20% | -6.62% | 10.41% | -21.99% | -2.32% | -28.49% | 32.28% |
VLO Valero Energy Corporation | 46.74% | 36.97% | -2.96% | 5.86% | 74.95% | 40.25% | -35.69% | 30.27% | -15.73% | 38.66% |
Correlation
The correlation between SAN and VLO is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 1988 | 0.26 |
The correlation between SAN and VLO shifts across timeframes, from -0.16 (1 year) to 0.30 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
SAN:
$198.15B
VLO:
$70.42B
SAN:
€1.06
VLO:
$13.77
SAN:
11.08
VLO:
17.16
SAN:
0.58
VLO:
0.06
SAN:
2.40
VLO:
0.57
SAN:
1.63
VLO:
2.61
SAN:
€74.92B
VLO:
$126.17B
SAN:
€46.97B
VLO:
$12.45B
SAN:
€21.14B
VLO:
$9.02B
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Return for Risk
SAN vs. VLO — Risk / Return Rank
SAN
VLO
SAN vs. VLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) and Valero Energy Corporation (VLO). 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 | VLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 5.23 | -1.64 |
| Martin ratioReturn relative to average drawdown | 11.07 | 12.85 | -1.78 |
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Drawdowns
SAN vs. VLO - Drawdown Comparison
The maximum SAN drawdown since its inception was -82.94%, smaller than the maximum VLO drawdown of -87.50%. Use the drawdown chart below to compare losses from any high point for SAN and VLO.
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Drawdown Indicators
| SAN | VLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.94% | -87.50% | +4.56% |
Max Drawdown (1Y)Largest decline over 1 year | -20.29% | -14.19% | -6.10% |
Max Drawdown (3Y)Largest decline over 3 years | -20.29% | -41.22% | +20.93% |
Max Drawdown (5Y)Largest decline over 5 years | -41.13% | -41.22% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -73.84% | -71.88% | -1.96% |
Current DrawdownCurrent decline from peak | 0.00% | -9.62% | +9.62% |
Average DrawdownAverage peak-to-trough decline | -30.64% | -34.24% | +3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.56% | 5.76% | +0.80% |
Volatility
SAN vs. VLO - Volatility Comparison
Banco Santander, S.A. (SAN) has a higher volatility of 10.69% compared to Valero Energy Corporation (VLO) at 10.17%. This indicates that SAN's price experiences larger fluctuations and is considered to be riskier than VLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAN | VLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 10.17% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 27.47% | 27.59% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.98% | 35.09% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.88% | 36.94% | -3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.83% | 40.39% | -4.56% |
Dividends
SAN vs. VLO - Dividend Comparison
SAN's dividend yield for the trailing twelve months is around 2.07%, more than VLO's 1.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SAN Banco Santander, S.A. | 2.07% | 2.11% | 4.63% | 3.58% | 3.83% | 2.71% | 0.00% | 6.20% | 5.83% | 4.60% | 3.29% | 7.06% |
VLO Valero Energy Corporation | 1.97% | 2.78% | 3.49% | 3.14% | 3.09% | 5.22% | 6.93% | 3.84% | 4.27% | 2.34% | 3.51% | 2.40% |
Financials
SAN vs. VLO - Financials Comparison
This section allows you to compare key financial metrics between Banco Santander, S.A. and Valero Energy Corporation. 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. VLO - 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%.
VLO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Valero Energy Corporation reported a gross profit of 6.20B and revenue of 32.38B. Therefore, the gross margin over that period was 19.1%.
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%.
VLO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Valero Energy Corporation reported an operating income of 1.73B and revenue of 32.38B, resulting in an operating margin of 5.4%.
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%.
VLO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Valero Energy Corporation reported a net income of 1.26B and revenue of 32.38B, resulting in a net margin of 3.9%.
Frequently Asked Questions
SAN and VLO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (10.69%) compared to VLO (10.17%). In terms of maximum drawdown, SAN dropped -82.94% vs VLO's -87.50%.
SAN currently has the higher Sharpe Ratio (2.21 vs 2.12), 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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