Bank of America Correlations
| BAC-PO Preferred Stock | USD 19.35 0.06 0.31% |
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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Bank of America and NYA is 0.14 (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 NYA in the same portfolio, assuming nothing else is changed.
Bank |
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
| 0.67 | CM | Canadian Imperial Bank Fiscal Year End 5th of December 2024 | PairCorr |
| 0.61 | TD | Toronto Dominion Bank Fiscal Year End 5th of December 2024 | PairCorr |
| 0.88 | BNS | Bank of Nova Scotia Fiscal Year End 26th of November 2024 | PairCorr |
| 0.98 | JPM-PK | JPMorgan Chase | PairCorr |
| 0.96 | JPM-PJ | JPMorgan Chase | PairCorr |
| 0.94 | JPM-PM | JPMorgan Chase | PairCorr |
| 0.98 | JPM-PL | JPMorgan Chase | PairCorr |
Moving against Bank Preferred Stock
| 0.57 | HSBC | HSBC Holdings PLC | PairCorr |
| 0.5 | NTB | Bank of NT | PairCorr |
| 0.46 | WFC | Wells Fargo Financial Report 12th of July 2024 | PairCorr |
| 0.43 | BCS | Barclays PLC ADR Aggressive Push | PairCorr |
| 0.41 | SAN | Banco Santander SA | PairCorr |
Related Correlations Analysis
| 0.88 | 0.9 | 0.92 | 0.87 | BAC-PP | ||
| 0.88 | 0.91 | 0.93 | 0.9 | BAC-PN | ||
| 0.9 | 0.91 | 0.95 | 0.92 | JPM-PM | ||
| 0.92 | 0.93 | 0.95 | 0.92 | BAC-PQ | ||
| 0.87 | 0.9 | 0.92 | 0.92 | WFC-PZ | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BAC-PP | 0.62 | (0.06) | 0.00 | (0.17) | 0.00 | 1.32 | 4.43 | |||
| BAC-PN | 0.60 | (0.03) | 0.00 | (0.18) | 0.00 | 1.25 | 4.39 | |||
| JPM-PM | 0.61 | (0.06) | 0.00 | (0.04) | 0.00 | 1.28 | 3.71 | |||
| BAC-PQ | 0.59 | (0.08) | 0.00 | (0.24) | 0.00 | 1.27 | 4.12 | |||
| WFC-PZ | 0.71 | (0.03) | (0.03) | 0.00 | 0.98 | 1.38 | 4.67 |
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.Did you try this?
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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 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 |
Already Invested in Bank of America?
The danger of trading Bank of America is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Bank of America is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Bank of America. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Bank of America is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Bank Preferred Stock, please use our How to Invest in Bank of America guide.Note that the Bank of America information on this page should be used as a complementary analysis to other Bank of America's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Complementary Tools for Bank Preferred Stock analysis
When running Bank of America's price analysis, check to measure Bank of America's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bank of America is operating at the current time. Most of Bank of America's value examination focuses on studying past and present price action to predict the probability of Bank of America's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bank of America's price. Additionally, you may evaluate how the addition of Bank of America to your portfolios can decrease your overall portfolio volatility.
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