BAC vs USB: Correlation
Measured on weekly returns over the past three years, Bank of America (BAC) and U.S. Bancorp (USB) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and USB?
Over the past 3 years, BAC and USB moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.82 over 3. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 589.7 %².
Among the 45 assets we track against BAC, USB ranks #8 by 3-year correlation. Over the last 12 months USB came out ahead by 9.0 percentage points (+24.1% against +33.1%). Stability stands out here, with the rolling one-year correlation confined to 0.66 through 0.88.
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 USB: side by side
| BAC (Bank of America) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +24.1% | +33.1% |
| 5-year return | +66.0% | +36.0% |
| Volatility (ann.) | 26.5% | 27.3% |
| Beta vs S&P 500 | 1.11 | 1.09 |
| Max drawdown (3Y) | -27.5% | -30.6% |
| Market cap | $427.7B | $97.2B |
| P/E (trailing) | 14.1 | 12.5 |
| Dividend yield | 1.80% | 3.31% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BAC | USB |
|---|---|---|
| 2022 | -23.8% | -19.1% |
| 2023 | +4.8% | +4.8% |
| 2024 | +33.9% | +15.6% |
| 2025 | +28.0% | +16.5% |
| 2026 | +12.4% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and USB 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 USB?
As of 2026-08-27, the correlation of weekly returns between BAC and USB is 0.82 over 3 years, 0.80 over 1 year and 0.77 over 5 years.
Is USB 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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bac-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bac-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAC correlations · USB correlations
