Bank of America Correlations

Stocks . USA . 
Stock . Bank of America
BAC Stock  USD 46.06  0.35  0.75%   
The current 90-days correlation between Bank of America and Bank of America is -0.31 (i.e., Very good diversification). The correlation of Bank of America 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Bank of America Correlation With Market

Poor diversification

The correlation between Bank of America and DJI is 0.71 (i.e., Poor 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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bank of America. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.
For information on how to trade Bank Stock refer to our How to Trade Bank Stock guide.

Moving together with Bank Stock

  0.92C Citigroup Fiscal Year End 10th of January 2025 PairCorr
  0.85BK Bank of New York Fiscal Year End 10th of January 2025 PairCorr
  0.7CM Canadian Imperial Bank Fiscal Year End 5th of December 2024 PairCorr
  0.91BCS Barclays PLC ADRPairCorr
  0.74BMO Bank of Montreal Fiscal Year End 6th of December 2024 PairCorr
  0.62BNS Bank of Nova Scotia Normal TradingPairCorr
  0.95JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.61NTB Bank of NTPairCorr
  0.68UBS UBS Group AG Sell-off TrendPairCorr
  0.98WFC Wells Fargo Aggressive PushPairCorr
  0.65HSBC HSBC Holdings PLCPairCorr
  0.63BAC-PB Bank of AmericaPairCorr
  0.89MUFG Mitsubishi UFJ FinancialPairCorr
  0.62SMFG Sumitomo Mitsui FinancialPairCorr
  0.83C-PN Citigroup Capital XIIIPairCorr

Moving against Bank Stock

  0.89ING ING Group NVPairCorr
  0.69TD Toronto Dominion Bank Fiscal Year End 5th of December 2024 PairCorr
  0.69JPM-PM JPMorgan ChasePairCorr
  0.61JPM-PK JPMorgan ChasePairCorr
  0.44JPM-PJ JPMorgan ChasePairCorr
  0.61JPM-PL JPMorgan ChasePairCorr
  0.58BAC-PQ Bank of AmericaPairCorr
  0.57BAC-PP Bank of AmericaPairCorr
  0.52BAC-PO Bank of AmericaPairCorr
  0.51BAC-PN Bank of AmericaPairCorr
  0.37BAC-PS Bank of AmericaPairCorr
  0.53WFC-PZ Wells FargoPairCorr
  0.52WFC-PC Wells FargoPairCorr
  0.5WFC-PA Wells FargoPairCorr
  0.45BBVA Banco Bilbao Viscaya Normal TradingPairCorr

Related Correlations Analysis

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