Bank of America Correlations

Preferred Stocks . USA . 
Preferred Stock . Bank of America
BAC-PN Preferred Stock  USD 23.82  0.14  0.58%   
The current 90-days correlation between Bank of America and Bank of America is 0.88 (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

Very weak diversification

The correlation between Bank of America and DJI is 0.42 (i.e., Very weak 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 Preferred Stock

  0.94CM Canadian Imperial Bank Fiscal Year End 5th of December 2024 PairCorr
  0.91RY Royal Bank Fiscal Year End 5th of December 2024 PairCorr
  0.93TD Toronto Dominion Bank Fiscal Year End 5th of December 2024 PairCorr
  0.86BML-PG Bank of AmericaPairCorr
  0.73BML-PH Bank of AmericaPairCorr
  0.95BML-PJ Bank of AmericaPairCorr
  0.95BML-PL Bank of AmericaPairCorr
  0.64BCS Barclays PLC ADRPairCorr
  0.61BMO Bank of Montreal Fiscal Year End 6th of December 2024 PairCorr
  0.96BNS Bank of Nova Scotia Fiscal Year End 26th of November 2024 PairCorr
  0.61ING ING Group NVPairCorr
  0.99JPM-PK JPMorgan ChasePairCorr
  0.98JPM-PJ JPMorgan ChasePairCorr
  0.98JPM-PM JPMorgan ChasePairCorr
  0.98JPM-PL JPMorgan ChasePairCorr
  0.96JPM-PC JPMorgan ChasePairCorr
  0.94JPM-PD JPMorgan ChasePairCorr
  0.62HSBC HSBC Holdings PLCPairCorr
  0.91BAC-PB Bank of AmericaPairCorr
  0.96BAC-PE Bank of AmericaPairCorr
  0.98BAC-PM Bank of AmericaPairCorr
  0.88BAC-PK Bank of AmericaPairCorr
  0.95BAC-PL Bank of AmericaPairCorr
  0.99BAC-PQ Bank of AmericaPairCorr
  0.99BAC-PO Bank of AmericaPairCorr
  0.99BAC-PP Bank of AmericaPairCorr
  0.99BAC-PS Bank of AmericaPairCorr

Moving against Bank Preferred Stock

  0.32C Citigroup Fiscal Year End 10th of January 2025 PairCorr
  0.44WFC Wells Fargo Fiscal Year End 10th of January 2025 PairCorr
  0.44SMFG Sumitomo Mitsui Financial Downward RallyPairCorr
  0.38MUFG Mitsubishi UFJ FinancialPairCorr

Related Correlations Analysis

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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.

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

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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