Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN (BACpO) — Stock Correlations & Overview
Over the past year, BACpO has moved most closely with BACpP, BACpQ, BACpS. Explore the stocks most correlated and inversely correlated with BACpO below, along with its price, financials, and company profile.
Stocks correlated with BACpO
Correlation of daily returns. Higher positive values move with BACpO; negative values move opposite it. Informational only, not investment advice.
Most correlated with BACpO
| Symbol | Company | Correlation |
|---|---|---|
| BACpP | Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non- Cumulative Preferred Stock, Series PPNATIONAL COMMERCIAL BANKS | 0.88 |
| BACpQ | Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQNATIONAL COMMERCIAL BANKS | 0.77 |
| BACpS | Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SSNATIONAL COMMERCIAL BANKS | 0.73 |
| BACpN | Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LLNATIONAL COMMERCIAL BANKS | 0.72 |
| WFCpC | Wells Fargo & Company Depositary Shares, each representing a 1/1, 000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CCNATIONAL COMMERCIAL BANKS | 0.71 |
Most inversely correlated with BACpO
| Symbol | Company | Correlation |
|---|---|---|
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.49 |
| PFIX | Simplify Interest Rate Hedge ETF | -0.49 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.48 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.48 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.47 |
Frequently asked questions about BACpO correlations
- Which stocks are most correlated with BACpO?
- Based on one year of daily returns, the stocks most correlated with Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN (BACpO) are BACpP (0.88), BACpQ (0.77) and BACpS (0.73). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with BACpO?
- Over the past year, the stocks most inversely correlated with Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN (BACpO) are TMV (-0.49), PFIX (-0.49) and TBT (-0.48). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these BACpO correlations calculated?
- We compute the correlation of daily returns between BACpO and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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