SeriesMagCorrOverlapThrough
These move opposite each other about 37% of the time
Very strong inverse
Strong enough to use as a signal — read the stability and regime notes below before relying on it.
Bank of America is a formidable financial titan with a $3.5 trillion balance sheet and a cornerstone of the American economy, holding the second-largest deposit market share in the United States. While the firm has maintained its stronghold among middle-market and retail clientele domestically, Bank of America has continued to hold its own on the global stage, as evidenced by its fourth-largest global trading operation and an investment banking division that regularly finishes in the top four in global league tables. The firm is organized across four segments: consumer banking, global wealth and investment management, global banking, and global markets.
Market cap 375.2B · 213,000 employees
ICE BofA BBB US Corporate Index Option-Adjusted Spread
BAMLC0A4CBBB
What to Watch
Unusual right now
Recent correlation (-35%) is 2.6σ from the long-run average of -88% — pair is behaving differently than usual.
Holds across regimes
Correlation is similar when markets rise (+19%) and fall (-25%) — reliable in both directions.
Flaky
Correlation swings widely across time windows — careful using this as a point estimate.
Time Series
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-88%
No shift — both series at their actual dates.
752 overlapping points at this shift
Time series with ICE BofA BBB US Corporate Index Option-Adjusted Spread at original dates
Indexed to 100 at start
Deep Dive
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Corr
-88%
Pearson correlation
95% CI
-90% → -86%
Likely range
R²
77.5%
Variance explained
Trend agreement
37.0%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
752
Deep
Pipeline
Pipeline Summary
752 paired data points survived the daily window.
Raw input
1,255
786
Normalized
1,255
786
Prepared
1,255
786
Aligned
752
752
Invalid removed
Explore
The strongest positive and inverse pairs we’ve saved for each side of this comparison — good jumping-off points if this result raised a question.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+19%
34 periods · Return correlation when both series rose
Both Falling
-25%
45 periods · Return correlation when both series fell
Diverging
-76%
170 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
537
A: 503 / B: 34
Series A
Bank of America Corporation
BAC
Market cap 375.2B · 213,000 employees
Stock · 1,255 raw → 1,255 prepared
Series B
BAMLC0A4CBBB
FRED · 786 raw → 786 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
-0.0233
Linear regression slope.
Intercept
2.1575
Linear regression intercept.
Saved 2 hours ago · ID: fred-bamlc0a4cbbb_stock-bac_5y
BAMLC0A4CBBB
ICE BofA BBB US Corporate Index Option-Adjusted Spread
Strongest positive