Bank of America Corp Correlations

NCB Stock

45.34 0.04 0.09%

The current 90-days correlation between Bank of America Corp and Zurich Insurance Group is 0.15 (i.e., Average diversification). The correlation of Bank of America Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Bank of America Corp Correlation With Market

Good diversification

The correlation between Bank of America and DJI is -0.05 (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 Corp 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 Corp 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 Corp - 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

0.95	CMC	JPMorgan Chase	Pair Corr
0.99	NWT	Wells Fargo	Pair Corr
0.86	HBC1	HSBC Holdings plc	Pair Corr
0.94	TRVC	Citigroup	Pair Corr
0.95	MFZA	Mitsubishi UFJ Financial	Pair Corr
0.96	MFZ	Mitsubishi UFJ Financial	Pair Corr
0.76	EK7	AGRICUL BK CHINA	Pair Corr
0.82	UN3	United Natural Foods Earnings Call Next Week	Pair Corr
0.95	V71	HUT 8 P	Pair Corr

Moving against Bank Stock

0.91	INN1	ING Groep NV	Pair Corr
0.82	BYRA	BANK RAKYAT IND	Pair Corr
0.8	PQ9	BANK MANDIRI	Pair Corr
0.74	PQ9	BANK MANDIRI	Pair Corr
0.73	BYRA	PT Bank Rakyat	Pair Corr
0.72	PQ9	PT Bank Mandiri	Pair Corr
0.68	BYRA	PT Bank Rakyat	Pair Corr
0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.4	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	S49	2OX	AF4	QBE	ZFI1	0UI	4JP	WN6
S49		0.8	0.71	0.69	0.46	0.75	0.3	0.7	S49
2OX	0.8		0.9	0.92	0.71	0.86	0.25	0.85	2OX
AF4	0.71	0.9		0.96	0.74	0.74	0.35	0.88	AF4
QBE	0.69	0.92	0.96		0.8	0.81	0.39	0.91	QBE
ZFI1	0.46	0.71	0.74	0.8		0.5	0.25	0.72	ZFI1
0UI	0.75	0.86	0.74	0.81	0.5		0.4	0.77	0UI
4JP	0.3	0.25	0.35	0.39	0.25	0.4		0.53	4JP
WN6	0.7	0.85	0.88	0.91	0.72	0.77	0.53		WN6
	S49	2OX	AF4	QBE	ZFI1	0UI	4JP	WN6

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Risk-Adjusted Indicators

There is a big difference between Bank Stock performing well and Bank of America Corp 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 Corp'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
S49	1.62	0.00	0.03	0.12	1.66	(2.74)	3.60	(3.09)	14.49
2OX	1.80	0.78	0.42	2.21	0.97	(2.17)	4.90	(2.41)	15.12
AF4	1.12	0.33	0.19	0.83	0.67	(1.76)	2.92	(1.52)	6.22
QBE	0.98	0.34	0.16	3.10	0.73	(1.41)	2.59	(1.05)	6.06
ZFI1	1.48	0.11	0.01	0.55	1.59	(2.28)	4.51	(3.62)	8.83
0UI	2.66	0.47	0.09	(2.45)	3.08	(3.71)	8.24	(3.96)	28.62
4JP	1.27	0.16	0.03	1.70	1.31	(1.74)	2.72	(2.35)	10.37
WN6	1.09	0.16	0.05	0.51	1.03	(1.66)	2.73	(1.79)	6.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bank of America Corp 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 Corp Corporate Management

Elected by the shareholders, the Bank of America Corp's board of directors comprises two types of representatives: Bank of America Corp 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 Corp's management team and ensure that shareholders' interests are well served. Bank of America Corp'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 Corp's outside directors are responsible for providing unbiased perspectives on the board's policies.

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

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