Bank of America Depositary Shares(Each representing 1/1200th interest in a share of Bank of America Corporation Floating Rate Non-Comulative Preferred Stock, Series5) (BMLpL) — Stock Correlations & Overview
Over the past year, BMLpL has moved most closely with BMLpH, BACpE, BMLpJ. Explore the stocks most correlated and inversely correlated with BMLpL below, along with its price, financials, and company profile.
Stocks correlated with BMLpL
Correlation of daily returns. Higher positive values move with BMLpL; negative values move opposite it. Informational only, not investment advice.
Most correlated with BMLpL
| Symbol | Company | Correlation |
|---|---|---|
| BMLpH | Bank Of America Corporation Depositary Shares(Each representing a 1/1200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock Series,2)NATIONAL COMMERCIAL BANKS | 0.45 |
| BACpE | Bank of America Corporation Depositary Shares (representing 1/1,000th of a share of Floating Rate Non-Cumalative Preferred Stock, Series E)NATIONAL COMMERCIAL BANKS | 0.44 |
| BMLpJ | Bank of America Depositary Shares(Each representing 1/1200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series4)NATIONAL COMMERCIAL BANKS | 0.41 |
| 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 | 0.40 |
| GSpA | Goldman Sachs Group, Inc. (The) Depositary sharesSECURITY BROKERS, DEALERS & FLOTATION COMPANIES | 0.40 |
Most inversely correlated with BMLpL
| Symbol | Company | Correlation |
|---|---|---|
| CARD | MAX Auto Industry -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.26 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.26 |
| SJB | ProShares Short High Yield | -0.25 |
| SLTY | YieldMax Ultra Short Option Income Strategy ETF | -0.25 |
| EWV | ProShares Trust UltraShort MSCI Japan | -0.25 |
Frequently asked questions about BMLpL correlations
- Which stocks are most correlated with BMLpL?
- Based on one year of daily returns, the stocks most correlated with Bank of America Depositary Shares(Each representing 1/1200th interest in a share of Bank of America Corporation Floating Rate Non-Comulative Preferred Stock, Series5) (BMLpL) are BMLpH (0.45), BACpE (0.44) and BMLpJ (0.41). 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 BMLpL?
- Over the past year, the stocks most inversely correlated with Bank of America Depositary Shares(Each representing 1/1200th interest in a share of Bank of America Corporation Floating Rate Non-Comulative Preferred Stock, Series5) (BMLpL) are CARD (-0.26), EFZ (-0.26) and SJB (-0.25). 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 BMLpL correlations calculated?
- We compute the correlation of daily returns between BMLpL 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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