BAC vs JPM: Correlation
Bank of America (BAC) and JPMorgan Chase (JPM) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and JPM?
Over the past 3 years, BAC and JPM moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 502.4 %².
Among the 45 assets we track against BAC, JPM ranks #6 by 3-year correlation. Their 12-month results are close: +24.1% for BAC against +20.6% for JPM. Stability stands out here, with the rolling one-year correlation confined to 0.73 through 0.89.
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 JPM: side by side
| BAC (Bank of America) | JPM (JPMorgan Chase) | |
|---|---|---|
| 1-year return | +24.1% | +20.6% |
| 5-year return | +66.0% | +150.2% |
| Volatility (ann.) | 26.5% | 23.2% |
| Beta vs S&P 500 | 1.11 | 1.01 |
| Max drawdown (3Y) | -27.5% | -24.4% |
| Market cap | $427.7B | $941.6B |
| P/E (trailing) | 14.1 | 15.2 |
| Dividend yield | 1.80% | 1.68% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BAC | JPM |
|---|---|---|
| 2022 | -23.8% | -12.6% |
| 2023 | +4.8% | +30.6% |
| 2024 | +33.9% | +44.3% |
| 2025 | +28.0% | +37.3% |
| 2026 | +12.4% | +11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and JPM good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BAC and JPM?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.85 over the last year and 0.85 over 5 years.
Is JPM a good diversifier for BAC?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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.
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Related comparisons
Hubs: BAC correlations · JPM correlations
