BAC vs TFC: Correlation
Measured on weekly returns over the past three years, Bank of America (BAC) and Truist Financial (TFC) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and TFC?
On 3 years of weekly data the BAC/TFC correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 592.3 %².
By 3-year correlation, TFC places #12 of the 45 assets tracked against BAC. Over the last 12 months BAC came out ahead by 12.0 percentage points (+24.1% against +12.1%). The rolling one-year correlation stayed in a tight band between 0.64 and 0.87 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 TFC: side by side
| BAC (Bank of America) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +24.1% | +12.1% |
| 5-year return | +66.0% | +12.7% |
| Volatility (ann.) | 26.5% | 28.0% |
| Beta vs S&P 500 | 1.11 | 1.07 |
| Max drawdown (3Y) | -27.5% | -26.9% |
| Market cap | $427.7B | $61.4B |
| P/E (trailing) | 14.1 | 11.6 |
| Dividend yield | 1.80% | 4.10% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BAC | TFC |
|---|---|---|
| 2022 | -23.8% | -23.5% |
| 2023 | +4.8% | -8.6% |
| 2024 | +33.9% | +23.7% |
| 2025 | +28.0% | +19.0% |
| 2026 | +12.4% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and TFC good diversifiers for each other?
No: a correlation of 0.80 means BAC and TFC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BAC and TFC?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.79 over the last year and 0.76 over 5 years.
Is TFC a good diversifier for BAC?
No: a correlation of 0.80 means BAC and TFC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
A reading of 0.80 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-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bac-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BAC correlations · TFC correlations
