BAC vs CFG: Correlation
How closely do Bank of America (BAC) and Citizens Financial Group (CFG) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and CFG?
Across a 3-year window, the weekly returns of BAC and CFG correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 680.2 %².
Within BAC's tracked universe of 45 assets, CFG comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CFG ahead by 15.2 points (+24.1% versus +39.3%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.74 and 0.91.
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 CFG: side by side
| BAC (Bank of America) | CFG (Citizens Financial Group) | |
|---|---|---|
| 1-year return | +24.1% | +39.3% |
| 5-year return | +66.0% | +98.3% |
| Volatility (ann.) | 26.5% | 31.0% |
| Beta vs S&P 500 | 1.11 | 1.16 |
| Max drawdown (3Y) | -27.5% | -29.1% |
| Market cap | $427.7B | $29.6B |
| P/E (trailing) | 14.1 | 15.4 |
| Dividend yield | 1.80% | 2.55% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BAC | CFG |
|---|---|---|
| 2022 | -23.8% | -13.4% |
| 2023 | +4.8% | -11.0% |
| 2024 | +33.9% | +38.0% |
| 2025 | +28.0% | +38.6% |
| 2026 | +12.4% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and CFG good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BAC and CFG?
The BAC/CFG correlation stands at 0.83 on a 3-year window (1 year: 0.76, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is CFG a good diversifier for BAC?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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-cfg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bac-vs-cfg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BAC correlations · CFG correlations
