Bank Cash from 2010 to 2025
| BOFA Stock | 21.95 0.02 0.09% |
Cash | First Reported 2010-12-31 | Previous Quarter 296.5 B | Current Value 327.5 B | Quarterly Volatility 83.4 B |
Check Bank of AmericaCDR financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Bank of AmericaCDR's main balance sheet or income statement drivers, such as Tax Provision of 2.1 B, Net Interest Income of 55.1 B or Interest Income of 95.3 B, as well as many indicators such as . Bank financial statements analysis is a perfect complement when working with Bank of AmericaCDR Valuation or Volatility modules.
Bank | Cash |
Pair Trading with Bank of AmericaCDR
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bank of AmericaCDR position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bank of AmericaCDR will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Bank of AmericaCDR 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 AmericaCDR 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 AmericaCDR - 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.
The correlation of Bank of AmericaCDR is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank of AmericaCDR moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of AmericaCDR moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bank of AmericaCDR can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Bank of AmericaCDR Correlation against competitors. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.