Bank of America Correlations
| BAC-PN Preferred Stock | USD 21.86 0.18 0.83% |
The current 90-days correlation between Bank of America and Bank of America is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank of America moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of America moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Bank of America Correlation With Market
Average diversification
The correlation between Bank of America and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank of America and DJI in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank of America could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of America when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bank of America - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bank of America to buy it.
Moving together with Bank Preferred Stock
| 0.71 | TD | Toronto Dominion Bank Earnings Call This Week | PairCorr |
| 0.8 | ING | ING Group NV | PairCorr |
| 0.97 | JPM-PK | JPMorgan Chase | PairCorr |
| 0.98 | JPM-PJ | JPMorgan Chase | PairCorr |
| 0.96 | JPM-PM | JPMorgan Chase | PairCorr |
| 0.98 | JPM-PL | JPMorgan Chase | PairCorr |
| 0.92 | BAC-PM | Bank of America | PairCorr |
| 0.64 | BAC-PL | Bank of America | PairCorr |
| 0.98 | BAC-PQ | Bank of America | PairCorr |
| 0.98 | BAC-PO | Bank of America | PairCorr |
| 0.98 | BAC-PP | Bank of America | PairCorr |
| 0.98 | BAC-PS | Bank of America | PairCorr |
| 0.71 | BBVA | Banco Bilbao Viscaya | PairCorr |
Moving against Bank Preferred Stock
| 0.78 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.76 | WFC | Wells Fargo Aggressive Push | PairCorr |
| 0.72 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.63 | C | Citigroup Aggressive Push | PairCorr |
| 0.59 | BCS | Barclays PLC ADR Aggressive Push | PairCorr |
| 0.53 | HSBC | HSBC Holdings PLC | PairCorr |
| 0.5 | BK | Bank of New York Fiscal Year End 10th of January 2025 | PairCorr |
| 0.47 | CM | Canadian Imperial Bank Earnings Call This Week | PairCorr |
| 0.32 | BMO | Bank of Montreal Earnings Call This Week | PairCorr |
| 0.32 | BAC-PB | Bank of America | PairCorr |
| 0.71 | AX | Axos Financial | PairCorr |
| 0.7 | DIST | Distoken Acquisition | PairCorr |
| 0.69 | MUFG | Mitsubishi UFJ Financial | PairCorr |
| 0.69 | L | Loews Corp | PairCorr |
| 0.69 | V | Visa Class A | PairCorr |
| 0.66 | SMFG | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.57 | C-PN | Citigroup Capital XIII | PairCorr |
| 0.43 | DHIL | Diamond Hill Investment | PairCorr |
| 0.43 | BN | Brookfield Corp | PairCorr |
| 0.42 | AB | AllianceBernstein | PairCorr |
| 0.35 | AC | Associated Capital | PairCorr |
Related Correlations Analysis
| 0.9 | 0.81 | 0.8 | -0.18 | BAC-PM | ||
| 0.9 | 0.89 | 0.91 | -0.3 | WFC-PZ | ||
| 0.81 | 0.89 | 0.97 | -0.19 | COF-PI | ||
| 0.8 | 0.91 | 0.97 | -0.33 | COF-PJ | ||
| -0.18 | -0.3 | -0.19 | -0.33 | BAC-PB | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Bank Preferred Stock performing well and Bank of America Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Bank of America's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BAC-PM | 0.42 | (0.03) | 0.00 | (0.35) | 0.00 | 0.81 | 2.61 | |||
| WFC-PZ | 0.58 | (0.05) | 0.00 | (0.26) | 0.00 | 1.41 | 3.95 | |||
| COF-PI | 0.69 | 0.00 | (0.10) | 0.15 | 0.93 | 1.67 | 4.54 | |||
| COF-PJ | 0.67 | 0.00 | (0.11) | 0.11 | 0.91 | 1.22 | 4.18 | |||
| BAC-PB | 0.24 | 0.02 | (0.31) | 1.96 | 0.26 | 0.56 | 1.76 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bank of America without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Bank of America Corporate Management
| Rudolf Bless | Chief Officer | Profile | |
| Aditya Bhasin | Chief Officer | Profile | |
| Brian Moynihan | Chairman CEO | Profile | |
| Paul Donofrio | Vice Chairman | Profile | |
| Alastair Borthwick | Chief Officer | Profile | |
| Darrin Boland | Chief Officer | Profile | |
| James DeMare | Ex Markets | Profile |