Bank of America Correlations

Stocks . Germany . 
Stock . Bank of America
NCB Stock  EUR 45.40  0.28  0.61%   
The current 90-days correlation between Bank of America and VULCAN MATERIALS is -0.07 (i.e., 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

Good diversification

The correlation between Bank of America and DJI is -0.06 (i.e., Good 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.
  
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 Stock

  0.99CMC JPMorgan ChasePairCorr
  0.99NWT Wells FargoPairCorr
  0.61C6T China Construction BankPairCorr
  0.88HBC1 HSBC Holdings plcPairCorr
  0.87HBC2 HSBC Holdings plcPairCorr
  0.92RYC Royal Bank Earnings Call This WeekPairCorr
  0.86CWW Commonwealth BankPairCorr
  0.82KBIA KB Financial GroupPairCorr
  0.88FHL Federal Home LoanPairCorr
  0.79SID State BankPairCorr
  0.8APC Apple IncPairCorr

Moving against Bank Stock

  0.57TKDA Takeda PharmaceuticalPairCorr
  0.44SUMB SUMITOMO P SPPairCorr
  0.43OIXA Orix Corp AdsPairCorr
  0.4LLD2 Lloyds Banking GroupPairCorr
  0.39OIX ORIXPairCorr
  0.37DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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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   
MMX
+ 0.98
VMC
MMX
+ 0.9
E5M
E5M
+ 0.88
VMC
7QG
+ 0.73
E5M
MMX
+ 0.7
7QG
7QG
+ 0.64
VMC
  
High negative correlations   
CNJ
- 0.56
EZM
CNJ
- 0.34
7QG
CNJ
- 0.06
MMX

Risk-Adjusted Indicators

There is a big difference between Bank 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.

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.

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Bank of America Corporate Management

Elected by the shareholders, the Bank of America's board of directors comprises two types of representatives: Bank of America inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bank. The board's role is to monitor Bank of America's management team and ensure that shareholders' interests are well served. Bank of America's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bank of America's outside directors are responsible for providing unbiased perspectives on the board's policies.
Rudolf BlessChief OfficerProfile
Aditya BhasinChief OfficerProfile
Brian MoynihanChairman CEOProfile
Paul DonofrioVice ChairmanProfile
Alastair BorthwickChief OfficerProfile
Darrin BolandChief OfficerProfile
James DeMareEx MarketsProfile
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