BAC vs CCL: Correlation
Bank of America (BAC) and Carnival Corporation (CCL) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and CCL?
Over the past 3 years, BAC and CCL moved with a correlation of 0.62, which is strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 765.6 %².
Among the 45 assets we track against BAC, CCL ranks #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BAC ahead by 45.7 points (+24.1% versus -21.6%). The rolling one-year correlation moved between 0.39 and 0.80 over the past three years, a moderate range. Risk is not evenly split, since CCL carries 1.8 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BAC vs CCL: side by side
| BAC (Bank of America) | CCL (Carnival Corporation) | |
|---|---|---|
| 1-year return | +24.1% | -21.6% |
| 5-year return | +66.0% | +7.3% |
| Volatility (ann.) | 26.5% | 46.5% |
| Beta vs S&P 500 | 1.11 | 1.72 |
| Max drawdown (3Y) | -27.5% | -42.3% |
| Market cap | $427.7B | $34.2B |
| P/E (trailing) | 14.1 | 11.5 |
| Dividend yield | 1.80% | 1.17% |
| Sector / category | Financials | Consumer Discretionary |
Year-by-year returns
| Year | BAC | CCL |
|---|---|---|
| 2022 | -23.8% | -59.9% |
| 2023 | +4.8% | +130.0% |
| 2024 | +33.9% | +34.4% |
| 2025 | +28.0% | +22.6% |
| 2026 | +12.4% | -17.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and CCL good diversifiers for each other?
Only partially. A correlation of 0.62 means BAC and CCL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BAC and CCL?
As of 2026-08-27, the correlation of weekly returns between BAC and CCL is 0.62 over 3 years, 0.54 over 1 year and 0.59 over 5 years.
Is CCL a good diversifier for BAC?
Only partially. A correlation of 0.62 means BAC and CCL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bac-vs-ccl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bac-vs-ccl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAC correlations · CCL correlations
