BAC vs NB: Correlation
Bank of America (BAC) and NioCorp Developments Ltd. (NB) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and NB?
Over the past 3 years, BAC and NB moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.17 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -403.5 %².
Within BAC's tracked universe of 45 assets, NB comes in at #37 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BAC outperformed by 29.7 percentage points (+24.1% for BAC against -5.6% for NB). Risk is not evenly split, since NB carries 3.4 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 NB: side by side
| BAC (Bank of America) | NB (NioCorp Developments Ltd.) | |
|---|---|---|
| 1-year return | +24.1% | -5.6% |
| 5-year return | +66.0% | n/a |
| Volatility (ann.) | 26.5% | 90.1% |
| Beta vs S&P 500 | 1.11 | 0.33 |
| Max drawdown (3Y) | -27.5% | -74.7% |
| Market cap | $427.7B | $0.6B |
| P/E (trailing) | 14.1 | – |
| Dividend yield | 1.80% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BAC | NB |
|---|---|---|
| 2022 | -23.8% | – |
| 2023 | +4.8% | – |
| 2024 | +33.9% | -51.4% |
| 2025 | +28.0% | +241.9% |
| 2026 | +12.4% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and NB good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAC and NB?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.03 over the last year and n/a over 5 years.
Is NB a good diversifier for BAC?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BAC correlations · NB correlations
