BAC vs KEY: Correlation
Bank of America (BAC) and KeyCorp (KEY) 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 KEY?
Over the past 3 years, BAC and KEY 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 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 695.3 %².
By 3-year correlation, KEY places #7 of the 45 assets tracked against BAC. On 12-month performance BAC holds a 5.7-point edge, +24.1% against +18.4%. The rolling one-year correlation stayed in a tight band between 0.74 and 0.89 over the past three years, which points to a structural rather than episodic relationship.
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 KEY: side by side
| BAC (Bank of America) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +24.1% | +18.4% |
| 5-year return | +66.0% | +38.0% |
| Volatility (ann.) | 26.5% | 32.1% |
| Beta vs S&P 500 | 1.11 | 1.25 |
| Max drawdown (3Y) | -27.5% | -32.2% |
| Market cap | $427.7B | $23.5B |
| P/E (trailing) | 14.1 | 13.0 |
| Dividend yield | 1.80% | 3.71% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BAC | KEY |
|---|---|---|
| 2022 | -23.8% | -21.7% |
| 2023 | +4.8% | -11.5% |
| 2024 | +33.9% | +25.3% |
| 2025 | +28.0% | +26.2% |
| 2026 | +12.4% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and KEY 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 KEY?
As of 2026-08-27, the correlation of weekly returns between BAC and KEY is 0.82 over 3 years, 0.75 over 1 year and 0.81 over 5 years.
Is KEY 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?
A reading of 0.82 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bac-vs-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bac-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BAC correlations · KEY correlations
