BAC vs RCL: Correlation
How closely do Bank of America (BAC) and Royal Caribbean Group (RCL) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and RCL?
On 3 years of weekly data the BAC/RCL correlation comes out at 0.59, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.59). The 5-year figure is 0.53, and annualized covariance runs at 650.0 %².
By 3-year correlation, RCL places #28 of the 45 assets tracked against BAC. The last year tells two different stories: BAC led by 43.4 percentage points, +24.1% for BAC against -19.3% for RCL. Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.78. One caveat on sizing: RCL is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RCL: side by side
| BAC (Bank of America) | RCL (Royal Caribbean Group) | |
|---|---|---|
| 1-year return | +24.1% | -19.3% |
| 5-year return | +66.0% | +257.6% |
| Volatility (ann.) | 26.5% | 41.3% |
| Beta vs S&P 500 | 1.11 | 1.46 |
| Max drawdown (3Y) | -27.5% | -35.0% |
| Market cap | $427.7B | $76.2B |
| P/E (trailing) | 14.1 | 17.9 |
| Dividend yield | 1.80% | 1.72% |
| Sector / category | Financials | Consumer Discretionary |
Year-by-year returns
| Year | BAC | RCL |
|---|---|---|
| 2022 | -23.8% | -35.7% |
| 2023 | +4.8% | +162.0% |
| 2024 | +33.9% | +79.0% |
| 2025 | +28.0% | +22.5% |
| 2026 | +12.4% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and RCL good diversifiers for each other?
Only partially. A correlation of 0.59 means BAC and RCL 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 RCL?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.36 over the last year and 0.53 over 5 years.
Is RCL a good diversifier for BAC?
Only partially. A correlation of 0.59 means BAC and RCL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 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-rcl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bac-vs-rcl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAC correlations · RCL correlations
