Bank of America Correlations

BML-PG Preferred Stock

USD 18.92 0.19 0.99%

The current 90-days correlation between Bank of America and Wells Fargo is -0.02 (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

Average diversification

The correlation between Bank of America and DJI is 0.12 (i.e., Average 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

0.76	WFC-PY	Wells Fargo	Pair Corr
0.72	GRAB	Grab Holdings	Pair Corr
0.85	NIO	Nio Class A Aggressive Push	Pair Corr

Moving against Bank Preferred Stock

0.7	RY	Royal Bank	Pair Corr
0.67	INFY	Infosys Ltd ADR	Pair Corr
0.65	IDCBF	Industrial and Commercial	Pair Corr
0.59	IDCBY	Industrial Commercial	Pair Corr
0.54	C	Citigroup Aggressive Push	Pair Corr
0.51	RIVN	Rivian Automotive	Pair Corr
0.44	MPW	Medical Properties Trust Downward Rally	Pair Corr
0.39	WFC	Wells Fargo Aggressive Push	Pair Corr
0.33	F	Ford Motor Aggressive Push	Pair Corr
0.78	CTYP	Community Bankers	Pair Corr
0.73	ZEUS	Olympic Steel	Pair Corr
0.6	PCYO	Pure Cycle	Pair Corr
0.56	OKE	ONEOK Inc Sell-off Trend	Pair Corr
0.53	KTTA	Pasithea Therapeutics	Pair Corr
0.5	EGFEY	Eurobank Ergasias	Pair Corr
0.39	SWKH	SWK Holdings Corp	Pair Corr
0.34	FIX	Comfort Systems USA	Pair Corr
0.31	MXL	MaxLinear Downward Rally	Pair Corr
0.76	LZB	La Z Boy	Pair Corr
0.73	NWWCF	New China Life	Pair Corr
0.63	SVNLY	Svenska Handelsbanken	Pair Corr
0.61	SNDR	Schneider National	Pair Corr

Related Correlations Analysis

	WFC	HSBC	RY	C	TD	MUFG	MS
WFC		0.34	0.77	0.84	0.79	0.21	0.86	WFC
HSBC	0.34		0.46	0.52	0.47	0.56	0.57	HSBC
RY	0.77	0.46		0.87	0.92	0.51	0.87	RY
C	0.84	0.52	0.87		0.74	0.53	0.82	C
TD	0.79	0.47	0.92	0.74		0.3	0.89	TD
MUFG	0.21	0.56	0.51	0.53	0.3		0.42	MUFG
MS	0.86	0.57	0.87	0.82	0.89	0.42		MS
	WFC	HSBC	RY	C	TD	MUFG	MS

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WFC	1.07	0.11	0.09	0.19	1.20	(1.12)	2.31	(2.09)	9.99
HSBC	1.03	0.13	0.05	0.38	1.35	(1.12)	2.07	(2.09)	8.60
RY	0.64	0.17	0.18	0.36	0.41	(0.75)	1.46	(1.11)	2.65
C	1.12	0.10	0.08	0.17	1.43	(1.12)	2.30	(2.20)	7.42
TD	0.71	0.24	0.20	0.46	0.52	(0.82)	2.02	(1.68)	4.09
MUFG	1.09	0.07	(0.03)	(0.21)	1.44	(1.15)	2.20	(2.32)	6.90
MS	1.08	0.25	0.12	2.43	1.12	(1.15)	2.74	(2.21)	7.40

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 Bless	Chief Officer	Profile
Aditya Bhasin	Chief Officer	Profile
Brian Moynihan	Chairman CEO	Profile
Paul Donofrio	Vice Chairman	Profile
Alastair Borthwick	Chief Officer	Profile
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