VIV vs. RGA
VIV (Telefônica Brasil S.A.) and RGA (Reinsurance Group of America, Incorporated) are both stocks. VIV operates in Telecom Services (Communication Services), while RGA operates in Insurance - Reinsurance (Financial Services). Over the past 10 years, VIV returned 7.59%/yr vs 11.40%/yr for RGA. At a 0.26 correlation, their price movements are largely independent.
Performance
VIV vs. RGA - Performance Comparison
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Returns By Period
In the year-to-date period, VIV achieves a 25.67% return, which is significantly higher than RGA's 14.83% return. Over the past 10 years, VIV has underperformed RGA with an annualized return of 7.59%, while RGA has yielded a comparatively higher 11.40% annualized return.
VIV
- 1D
- 3.64%
- 1M
- 6.07%
- 6M
- 19.91%
- YTD
- 25.67%
- 1Y
- 32.02%
- 3Y*
- 26.07%
- 5Y*
- 19.06%
- 10Y*
- 7.59%
RGA
- 1D
- 0.29%
- 1M
- 12.35%
- 6M
- 15.97%
- YTD
- 14.83%
- 1Y
- 21.33%
- 3Y*
- 19.97%
- 5Y*
- 17.91%
- 10Y*
- 11.40%
VIV vs. RGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIV Telefônica Brasil S.A. | 25.67% | 67.26% | -27.07% | 64.86% | -13.84% | 4.65% | -32.07% | 27.54% | -11.53% | 23.72% |
RGA Reinsurance Group of America, Incorporated | 14.83% | -2.97% | 34.38% | 16.39% | 33.04% | -3.21% | -27.02% | 18.29% | -8.71% | 25.59% |
Correlation
The correlation between VIV and RGA is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2008 | 0.26 |
The correlation between VIV and RGA shifts across timeframes, from 0.11 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
Fundamentals
VIV:
$22.27B
RGA:
$15.14B
VIV:
R$3.99
RGA:
$20.15
VIV:
17.89
RGA:
11.47
VIV:
5.37
RGA:
0.43
VIV:
1.88
RGA:
0.57
VIV:
R$60.61B
RGA:
$18.13B
VIV:
R$25.92B
RGA:
$3.15B
VIV:
R$24.27B
RGA:
$1.46B
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Return for Risk
VIV vs. RGA — Risk / Return Rank
VIV
RGA
VIV vs. RGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Telefônica Brasil S.A. (VIV) and Reinsurance Group of America, Incorporated (RGA). 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.
| VIV | RGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.58 | -0.19 |
| Martin ratioReturn relative to average drawdown | 3.58 | 3.78 | -0.20 |
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Drawdowns
VIV vs. RGA - Drawdown Comparison
The maximum VIV drawdown since its inception was -77.73%, which is greater than RGA's maximum drawdown of -65.75%. Use the drawdown chart below to compare losses from any high point for VIV and RGA.
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Drawdown Indicators
| VIV | RGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.73% | -65.75% | -11.98% |
Max Drawdown (1Y)Largest decline over 1 year | -23.44% | -12.68% | -10.76% |
Max Drawdown (3Y)Largest decline over 3 years | -30.17% | -27.11% | -3.06% |
Max Drawdown (5Y)Largest decline over 5 years | -40.76% | -27.11% | -13.65% |
Max Drawdown (10Y)Largest decline over 10 years | -47.57% | -65.75% | +18.18% |
Current DrawdownCurrent decline from peak | -15.06% | 0.00% | -15.06% |
Average DrawdownAverage peak-to-trough decline | -31.98% | -11.64% | -20.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.08% | 5.30% | +3.78% |
Volatility
VIV vs. RGA - Volatility Comparison
Telefônica Brasil S.A. (VIV) has a higher volatility of 8.04% compared to Reinsurance Group of America, Incorporated (RGA) at 6.22%. This indicates that VIV's price experiences larger fluctuations and is considered to be riskier than RGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIV | RGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 6.22% | +1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 23.07% | 17.21% | +5.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.39% | 23.85% | +5.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.52% | 27.67% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.09% | 32.90% | -1.81% |
Dividends
VIV vs. RGA - Dividend Comparison
VIV's dividend yield for the trailing twelve months is around 8.81%, more than RGA's 1.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RGA Reinsurance Group of America, Incorporated | 1.80% | 1.79% | 1.63% | 2.04% | 2.15% | 2.61% | 2.42% | 1.59% | 1.57% | 1.17% | 1.24% | 1.64% |
VIV Telefônica Brasil S.A. | 8.81% | 5.25% | 6.60% | 5.55% | 5.86% | 6.44% | 10.22% | 5.25% | 9.20% | 10.87% | 4.09% | 10.07% |
Financials
VIV vs. RGA - Financials Comparison
This section allows you to compare key financial metrics between Telefônica Brasil S.A. and Reinsurance Group of America, Incorporated. 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
VIV vs. RGA - Profitability Comparison
VIV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Telefônica Brasil S.A. reported a gross profit of 6.17B and revenue of 15.17B. Therefore, the gross margin over that period was 40.7%.
RGA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Reinsurance Group of America, Incorporated reported a gross profit of 0.00 and revenue of 6.49M. Therefore, the gross margin over that period was 0.0%.
VIV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Telefônica Brasil S.A. reported an operating income of 2.24B and revenue of 15.17B, resulting in an operating margin of 14.8%.
RGA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Reinsurance Group of America, Incorporated reported an operating income of 441.00K and revenue of 6.49M, resulting in an operating margin of 6.8%.
VIV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Telefônica Brasil S.A. reported a net income of 1.24B and revenue of 15.17B, resulting in a net margin of 8.2%.
RGA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Reinsurance Group of America, Incorporated reported a net income of 331.00K and revenue of 6.49M, resulting in a net margin of 5.1%.
Frequently Asked Questions
VIV and RGA have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIV has higher volatility (8.04%) compared to RGA (6.22%). In terms of maximum drawdown, VIV dropped -77.73% vs RGA's -65.75%.
VIV currently has the higher Sharpe Ratio (1.11 vs 0.84), 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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