Bank of America Corporation vs JP Morgan Chase & Co.
Why these are rivals: #1 and #2 by market value ($898B vs $343B) in Nasdaq's "Major Banks" industry; SEC SIC 6021 / 6021 (same major group); #1 and #2 by market value ($898B vs $343B) with SEC SIC 6021 (National Commercial Banks).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Mean reversion: ADF t-statistic of the spread: 0.17 (needs <= -2.873 (5% critical value))
- Speed: half-life of the spread, sessions: 110.61 (needs <= 63)
JPM is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | BAC | JPM | Larger |
|---|---|---|---|
| 2025 | $113.1B | $182.4B | JPM |
| 2024 | $105.9B | $177.6B | JPM |
| 2023 | $102.8B | $158.1B | JPM |
| 2022 | $95.0B | $128.7B | JPM |
| 2021 | $89.1B | $121.6B | JPM |
| 2020 | $85.5B | $120.0B | JPM |
JPM led in every year with figures for both. Market value: BAC $342.7B, JPM $898.4B.
JPM is ahead now
Measured against the pair's own last 252 trading days.
JPM leads BAC by 3.17 standard deviations: +14.5% over its usual price ratio. 5 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| BAC | -21.8% | -0.2% | -4.7% |
| JPM | -6.3% | +12.2% | +8.9% |
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2533 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.76 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: 0.17 (needs <= -2.873 (5% critical value))
- Fail
- Speed: half-life of the spread, sessions: 110.61 (needs <= 63)
- Data
- Both stocks current
Prices side by side, and the gap between them
Data table (504 sessions)
| Date | BAC index | JPM index | z | Ahead |
|---|---|---|---|---|
| 2026-11-10 | 111.61 | 138.46 | -3.17 | JPM ahead |
| 2026-11-09 | 111.32 | 138.46 | -3.32 | JPM ahead |
| 2026-11-06 | 108.83 | 135.39 | -3.41 | JPM ahead |
| 2026-11-05 | 109.58 | 136.54 | -3.55 | JPM ahead |
| 2026-11-04 | 113.70 | 142.52 | -3.82 | JPM ahead |
| 2026-11-03 | 109.36 | 136.80 | -3.89 | JPM ahead |
| 2026-11-02 | 109.16 | 137.85 | -4.31 | JPM ahead |
| 2026-10-30 | 110.13 | 136.42 | -3.91 | JPM ahead |
| 2026-10-29 | 112.62 | 139.07 | -3.96 | JPM ahead |
| 2026-10-28 | 111.98 | 137.34 | -3.88 | JPM ahead |
| 2026-10-27 | 111.61 | 135.91 | -3.79 | JPM ahead |
| 2026-10-26 | 111.25 | 135.21 | -3.85 | JPM ahead |
| 2026-10-23 | 111.34 | 134.21 | -3.70 | JPM ahead |
| 2026-10-22 | 112.49 | 136.22 | -3.98 | JPM ahead |
| 2026-10-21 | 111.83 | 135.67 | -4.20 | JPM ahead |
| 2026-10-20 | 111.52 | 135.70 | -4.49 | JPM ahead |
| 2026-10-19 | 110.97 | 135.00 | -4.69 | JPM ahead |
| 2026-10-16 | 112.82 | 137.51 | -5.01 | JPM ahead |
| 2026-10-15 | 113.85 | 135.81 | -4.32 | JPM ahead |
| 2026-10-14 | 113.17 | 135.71 | -4.64 | JPM ahead |
| 2026-10-13 | 118.83 | 134.15 | -2.13 | JPM ahead |
| 2026-10-12 | 120.19 | 135.31 | -2.01 | JPM ahead |
| 2026-10-09 | 119.62 | 134.78 | -2.05 | JPM ahead |
| 2026-10-08 | 118.06 | 134.15 | -2.41 | JPM ahead |
| 2026-10-07 | 117.86 | 133.40 | -2.25 | JPM ahead |
| 2026-10-06 | 119.11 | 134.09 | -2.03 | JPM ahead |
| 2026-10-05 | 118.92 | 134.53 | -2.24 | JPM ahead |
| 2026-10-02 | 118.37 | 134.53 | -2.45 | JPM ahead |
| 2026-10-01 | 118.32 | 134.86 | -2.58 | JPM ahead |
| 2026-09-30 | 119.86 | 133.91 | -1.74 | JPM ahead |
| 2026-09-29 | 121.03 | 135.59 | -1.86 | JPM ahead |
| 2026-09-28 | 122.15 | 136.24 | -1.68 | JPM ahead |
| 2026-09-25 | 124.86 | 138.86 | -1.55 | JPM ahead |
| 2026-09-24 | 123.39 | 137.04 | -1.50 | JPM ahead |
| 2026-09-23 | 123.32 | 136.62 | -1.39 | JPM ahead |
| 2026-09-22 | 123.76 | 137.62 | -1.55 | JPM ahead |
| 2026-09-21 | 127.64 | 142.49 | -1.73 | JPM ahead |
| 2026-09-18 | 127.13 | 141.53 | -1.61 | JPM ahead |
| 2026-09-17 | 128.12 | 141.39 | -1.23 | JPM ahead |
| 2026-09-16 | 127.50 | 141.23 | -1.38 | JPM ahead |
| 2026-09-15 | 131.07 | 142.67 | -0.64 | JPM ahead |
| 2026-09-14 | 130.96 | 141.72 | -0.38 | near the usual relationship |
| 2026-09-11 | 138.05 | 144.19 | +1.11 | BAC ahead |
| 2026-09-10 | 137.77 | 143.11 | +1.34 | BAC ahead |
| 2026-09-09 | 138.01 | 143.57 | +1.29 | BAC ahead |
| 2026-09-08 | 137.39 | 143.09 | +1.26 | BAC ahead |
| 2026-09-04 | 138.03 | 145.16 | +0.85 | BAC ahead |
| 2026-09-03 | 138.82 | 146.55 | +0.70 | BAC ahead |
| 2026-09-02 | 137.86 | 144.18 | +1.10 | BAC ahead |
| 2026-09-01 | 136.51 | 143.67 | +0.84 | BAC ahead |
| 2026-08-31 | 136.40 | 144.10 | +0.69 | BAC ahead |
| 2026-08-28 | 137.24 | 144.75 | +0.76 | BAC ahead |
| 2026-08-27 | 134.71 | 143.37 | +0.39 | near the usual relationship |
| 2026-08-26 | 137.04 | 144.30 | +0.84 | BAC ahead |
| 2026-08-25 | 137.48 | 144.37 | +0.96 | BAC ahead |
| 2026-08-24 | 137.26 | 144.25 | +0.94 | BAC ahead |
| 2026-08-21 | 135.85 | 142.31 | +1.09 | BAC ahead |
| 2026-08-20 | 136.23 | 142.29 | +1.21 | BAC ahead |
| 2026-08-19 | 139.11 | 144.60 | +1.43 | BAC ahead |
| 2026-08-18 | 141.44 | 147.03 | +1.43 | BAC ahead |
| 2026-08-17 | 140.70 | 146.10 | +1.48 | BAC ahead |
| 2026-08-14 | 142.02 | 146.86 | +1.66 | BAC ahead |
| 2026-08-13 | 141.14 | 146.97 | +1.38 | BAC ahead |
| 2026-08-12 | 142.72 | 147.81 | +1.61 | BAC ahead |
| 2026-08-11 | 140.94 | 146.54 | +1.45 | BAC ahead |
| 2026-08-10 | 140.63 | 145.63 | +1.60 | BAC ahead |
| 2026-08-07 | 139.11 | 144.71 | +1.42 | BAC ahead |
| 2026-08-06 | 138.74 | 144.22 | +1.44 | BAC ahead |
| 2026-08-05 | 139.29 | 145.41 | +1.27 | BAC ahead |
| 2026-08-04 | 138.52 | 144.71 | +1.24 | BAC ahead |
| 2026-08-03 | 137.59 | 142.73 | +1.51 | BAC ahead |
| 2026-07-31 | 136.42 | 142.39 | +1.29 | BAC ahead |
| 2026-07-30 | 135.94 | 142.01 | +1.27 | BAC ahead |
| 2026-07-29 | 134.49 | 139.52 | +1.53 | BAC ahead |
| 2026-07-28 | 137.90 | 144.62 | +1.14 | BAC ahead |
| 2026-07-27 | 136.82 | 144.18 | +0.98 | BAC ahead |
| 2026-07-24 | 136.64 | 142.97 | +1.25 | BAC ahead |
| 2026-07-23 | 134.95 | 141.63 | +1.14 | BAC ahead |
| 2026-07-22 | 135.70 | 140.94 | +1.53 | BAC ahead |
| 2026-07-21 | 134.82 | 139.74 | +1.62 | BAC ahead |
| 2026-07-20 | 133.05 | 137.16 | +1.83 | BAC ahead |
| 2026-07-17 | 134.93 | 138.06 | +2.12 | BAC ahead |
| 2026-07-16 | 135.41 | 138.89 | +2.05 | BAC ahead |
| 2026-07-15 | 135.63 | 140.42 | +1.73 | BAC ahead |
| 2026-07-14 | 133.49 | 138.79 | +1.59 | BAC ahead |
| 2026-07-13 | 131.03 | 135.40 | +1.83 | BAC ahead |
| 2026-07-10 | 131.40 | 136.19 | +1.74 | BAC ahead |
| 2026-07-09 | 130.48 | 135.78 | +1.60 | BAC ahead |
| 2026-07-08 | 128.39 | 133.82 | +1.56 | BAC ahead |
| 2026-07-07 | 131.82 | 137.30 | +1.60 | BAC ahead |
| 2026-07-06 | 131.91 | 136.70 | +1.81 | BAC ahead |
| 2026-07-02 | 129.33 | 135.38 | +1.45 | BAC ahead |
| 2026-07-01 | 128.52 | 135.22 | +1.27 | BAC ahead |
| 2026-06-30 | 125.48 | 132.49 | +1.15 | BAC ahead |
| 2026-06-29 | 127.46 | 133.32 | +1.51 | BAC ahead |
| 2026-06-26 | 127.46 | 133.19 | +1.56 | BAC ahead |
| 2026-06-25 | 128.14 | 135.64 | +1.09 | BAC ahead |
| 2026-06-24 | 127.13 | 134.97 | +0.98 | BAC ahead |
| 2026-06-23 | 127.53 | 135.25 | +1.03 | BAC ahead |
| 2026-06-22 | 126.34 | 134.17 | +0.99 | BAC ahead |
| 2026-06-18 | 123.76 | 131.64 | +0.94 | BAC ahead |
| 2026-06-17 | 124.49 | 134.97 | +0.22 | near the usual relationship |
| 2026-06-16 | 125.17 | 134.03 | +0.69 | BAC ahead |
| 2026-06-15 | 123.03 | 129.28 | +1.41 | BAC ahead |
| 2026-06-12 | 123.36 | 129.81 | +1.37 | BAC ahead |
| 2026-06-11 | 121.47 | 126.89 | +1.67 | BAC ahead |
| 2026-06-10 | 120.11 | 125.13 | +1.79 | BAC ahead |
| 2026-06-09 | 119.84 | 126.57 | +1.27 | BAC ahead |
| 2026-06-08 | 118.10 | 125.92 | +0.91 | BAC ahead |
| 2026-06-05 | 118.54 | 126.43 | +0.90 | BAC ahead |
| 2026-06-04 | 119.29 | 125.84 | +1.34 | BAC ahead |
| 2026-06-03 | 115.39 | 121.77 | +1.33 | BAC ahead |
| 2026-06-02 | 115.57 | 121.82 | +1.39 | BAC ahead |
| 2026-06-01 | 113.43 | 120.04 | +1.24 | BAC ahead |
| 2026-05-29 | 113.63 | 121.15 | +0.96 | BAC ahead |
| 2026-05-28 | 111.80 | 120.10 | +0.67 | BAC ahead |
| 2026-05-27 | 112.53 | 121.14 | +0.59 | BAC ahead |
| 2026-05-26 | 114.95 | 124.16 | +0.46 | near the usual relationship |
| 2026-05-22 | 114.07 | 124.01 | +0.21 | near the usual relationship |
| 2026-05-21 | 113.39 | 122.64 | +0.41 | near the usual relationship |
| 2026-05-20 | 112.82 | 122.23 | +0.35 | near the usual relationship |
| 2026-05-19 | 111.65 | 119.69 | +0.77 | BAC ahead |
| 2026-05-18 | 111.63 | 121.72 | +0.10 | near the usual relationship |
| 2026-05-15 | 109.60 | 120.54 | -0.24 | near the usual relationship |
| 2026-05-14 | 109.78 | 121.39 | -0.45 | near the usual relationship |
| 2026-05-13 | 109.76 | 121.53 | -0.50 | JPM ahead |
| 2026-05-12 | 111.83 | 123.40 | -0.37 | near the usual relationship |
| 2026-05-11 | 111.32 | 121.43 | +0.09 | near the usual relationship |
| 2026-05-08 | 112.99 | 122.28 | +0.40 | near the usual relationship |
| 2026-05-07 | 116.16 | 123.97 | +0.96 | BAC ahead |
| 2026-05-06 | 118.04 | 127.46 | +0.50 | BAC ahead |
| 2026-05-05 | 116.98 | 125.23 | +0.85 | BAC ahead |
| 2026-05-04 | 114.93 | 124.52 | +0.38 | near the usual relationship |
| 2026-05-01 | 117.24 | 126.48 | +0.56 | BAC ahead |
| 2026-04-30 | 117.73 | 126.78 | +0.63 | BAC ahead |
| 2026-04-29 | 116.45 | 125.17 | +0.71 | BAC ahead |
| 2026-04-28 | 115.97 | 126.06 | +0.28 | near the usual relationship |
| 2026-04-27 | 115.90 | 126.14 | +0.24 | near the usual relationship |
| 2026-04-24 | 114.62 | 124.78 | +0.24 | near the usual relationship |
| 2026-04-23 | 115.55 | 126.16 | +0.13 | near the usual relationship |
| 2026-04-22 | 116.98 | 126.70 | +0.44 | near the usual relationship |
| 2026-04-21 | 117.77 | 126.69 | +0.71 | BAC ahead |
| 2026-04-20 | 118.81 | 128.30 | +0.56 | BAC ahead |
| 2026-04-17 | 118.72 | 125.59 | +1.35 | BAC ahead |
| 2026-04-16 | 117.84 | 125.46 | +1.12 | BAC ahead |
| 2026-04-15 | 119.62 | 123.83 | +2.15 | BAC ahead |
| 2026-04-14 | 117.49 | 125.93 | +0.88 | BAC ahead |
| 2026-04-13 | 117.49 | 126.97 | +0.58 | BAC ahead |
| 2026-04-10 | 115.70 | 125.42 | +0.48 | near the usual relationship |
| 2026-04-09 | 116.08 | 125.61 | +0.55 | BAC ahead |
| 2026-04-08 | 114.25 | 124.65 | +0.25 | near the usual relationship |
| 2026-04-07 | 110.72 | 120.38 | +0.39 | near the usual relationship |
| 2026-04-06 | 110.24 | 119.59 | +0.46 | near the usual relationship |
| 2026-04-02 | 108.74 | 119.24 | +0.07 | near the usual relationship |
| 2026-04-01 | 108.50 | 119.56 | -0.11 | near the usual relationship |
| 2026-03-31 | 107.36 | 119.06 | -0.34 | near the usual relationship |
| 2026-03-30 | 104.01 | 114.86 | -0.19 | near the usual relationship |
| 2026-03-27 | 103.44 | 114.48 | -0.28 | near the usual relationship |
| 2026-03-26 | 106.23 | 118.05 | -0.42 | near the usual relationship |
| 2026-03-25 | 107.36 | 119.57 | -0.51 | JPM ahead |
| 2026-03-24 | 106.01 | 118.35 | -0.60 | JPM ahead |
| 2026-03-23 | 104.65 | 117.34 | -0.76 | JPM ahead |
| 2026-03-20 | 103.85 | 115.99 | -0.63 | JPM ahead |
| 2026-03-19 | 103.52 | 116.56 | -0.92 | JPM ahead |
| 2026-03-18 | 103.13 | 116.47 | -1.03 | JPM ahead |
| 2026-03-17 | 104.12 | 116.12 | -0.60 | JPM ahead |
| 2026-03-16 | 103.63 | 115.83 | -0.68 | JPM ahead |
| 2026-03-13 | 102.88 | 114.73 | -0.61 | JPM ahead |
| 2026-03-12 | 103.79 | 114.50 | -0.25 | near the usual relationship |
| 2026-03-11 | 106.85 | 116.38 | +0.19 | near the usual relationship |
| 2026-03-10 | 106.94 | 116.87 | +0.07 | near the usual relationship |
| 2026-03-09 | 105.48 | 117.35 | -0.54 | JPM ahead |
| 2026-03-06 | 107.11 | 117.17 | +0.04 | near the usual relationship |
| 2026-03-05 | 109.69 | 118.82 | +0.37 | near the usual relationship |
| 2026-03-04 | 110.77 | 121.18 | +0.03 | near the usual relationship |
| 2026-03-03 | 110.04 | 121.53 | -0.30 | near the usual relationship |
| 2026-03-02 | 109.69 | 120.44 | -0.11 | near the usual relationship |
| 2026-02-27 | 109.73 | 121.55 | -0.41 | near the usual relationship |
| 2026-02-26 | 115.17 | 123.91 | +0.58 | BAC ahead |
| 2026-02-25 | 113.83 | 122.76 | +0.50 | BAC ahead |
| 2026-02-24 | 111.01 | 120.34 | +0.33 | near the usual relationship |
| 2026-02-23 | 112.46 | 120.48 | +0.73 | BAC ahead |
| 2026-02-20 | 116.85 | 125.80 | +0.56 | BAC ahead |
| 2026-02-19 | 116.21 | 124.69 | +0.68 | BAC ahead |
| 2026-02-18 | 117.51 | 124.98 | +0.98 | BAC ahead |
| 2026-02-17 | 116.14 | 124.31 | +0.77 | BAC ahead |
| 2026-02-13 | 115.72 | 122.46 | +1.17 | BAC ahead |
| 2026-02-12 | 115.66 | 122.50 | +1.14 | BAC ahead |
| 2026-02-11 | 118.59 | 125.81 | +1.09 | BAC ahead |
| 2026-02-10 | 121.98 | 128.83 | +1.25 | BAC ahead |
| 2026-02-09 | 124.22 | 130.37 | +1.47 | BAC ahead |
| 2026-02-06 | 124.49 | 130.49 | +1.51 | BAC ahead |
| 2026-02-05 | 120.99 | 125.54 | +1.87 | BAC ahead |
| 2026-02-04 | 121.96 | 128.42 | +1.37 | BAC ahead |
| 2026-02-03 | 119.91 | 127.44 | +1.05 | BAC ahead |
| 2026-02-02 | 118.98 | 124.72 | +1.53 | BAC ahead |
| 2026-01-30 | 117.15 | 123.81 | +1.24 | BAC ahead |
| 2026-01-29 | 116.89 | 124.03 | +1.10 | BAC ahead |
| 2026-01-28 | 114.09 | 121.74 | +0.90 | BAC ahead |
| 2026-01-27 | 114.89 | 121.55 | +1.18 | BAC ahead |
| 2026-01-26 | 114.56 | 121.85 | +1.00 | BAC ahead |
| 2026-01-23 | 113.90 | 120.51 | +1.18 | BAC ahead |
| 2026-01-22 | 115.50 | 122.90 | +0.98 | BAC ahead |
| 2026-01-21 | 114.67 | 122.25 | +0.90 | BAC ahead |
| 2026-01-20 | 114.73 | 122.54 | +0.82 | BAC ahead |
| 2026-01-16 | 116.65 | 126.48 | +0.30 | near the usual relationship |
| 2026-01-15 | 115.81 | 125.18 | +0.38 | near the usual relationship |
| 2026-01-14 | 115.57 | 124.61 | +0.44 | near the usual relationship |
| 2026-01-13 | 120.11 | 125.84 | +1.30 | BAC ahead |
| 2026-01-12 | 121.54 | 131.34 | +0.33 | near the usual relationship |
| 2026-01-09 | 122.99 | 133.24 | +0.24 | near the usual relationship |
| 2026-01-08 | 123.72 | 133.49 | +0.34 | near the usual relationship |
| 2026-01-07 | 122.53 | 132.35 | +0.29 | near the usual relationship |
| 2026-01-06 | 126.07 | 135.44 | +0.43 | near the usual relationship |
| 2026-01-05 | 125.28 | 135.21 | +0.29 | near the usual relationship |
| 2026-01-02 | 123.21 | 131.74 | +0.54 | BAC ahead |
| 2025-12-31 | 121.12 | 130.42 | +0.33 | near the usual relationship |
| 2025-12-30 | 121.74 | 130.91 | +0.36 | near the usual relationship |
| 2025-12-29 | 121.89 | 131.04 | +0.35 | near the usual relationship |
| 2025-12-26 | 123.70 | 132.72 | +0.39 | near the usual relationship |
| 2025-12-24 | 123.87 | 133.23 | +0.32 | near the usual relationship |
| 2025-12-23 | 123.25 | 131.92 | +0.43 | near the usual relationship |
| 2025-12-22 | 123.06 | 130.77 | +0.60 | BAC ahead |
| 2025-12-19 | 121.71 | 128.39 | +0.76 | BAC ahead |
| 2025-12-18 | 119.49 | 126.69 | +0.62 | BAC ahead |
| 2025-12-17 | 120.13 | 127.49 | +0.58 | BAC ahead |
| 2025-12-16 | 120.70 | 127.72 | +0.63 | BAC ahead |
| 2025-12-15 | 121.85 | 129.53 | +0.50 | BAC ahead |
| 2025-12-12 | 121.43 | 128.92 | +0.52 | BAC ahead |
| 2025-12-11 | 120.15 | 128.46 | +0.35 | near the usual relationship |
| 2025-12-10 | 119.09 | 125.52 | +0.66 | BAC ahead |
| 2025-12-09 | 117.90 | 121.63 | +1.12 | BAC ahead |
| 2025-12-08 | 118.70 | 127.58 | +0.19 | near the usual relationship |
| 2025-12-05 | 118.81 | 127.52 | +0.21 | near the usual relationship |
| 2025-12-04 | 119.27 | 127.94 | +0.21 | near the usual relationship |
| 2025-12-03 | 119.11 | 126.34 | +0.44 | near the usual relationship |
| 2025-12-02 | 117.13 | 124.62 | +0.36 | near the usual relationship |
| 2025-12-01 | 117.24 | 125.04 | +0.30 | near the usual relationship |
| 2025-11-28 | 118.15 | 126.72 | +0.17 | near the usual relationship |
| 2025-11-26 | 116.69 | 124.52 | +0.27 | near the usual relationship |
| 2025-11-25 | 115.57 | 122.64 | +0.37 | near the usual relationship |
| 2025-11-24 | 114.36 | 120.62 | +0.48 | near the usual relationship |
| 2025-11-21 | 113.54 | 120.63 | +0.33 | near the usual relationship |
| 2025-11-20 | 112.31 | 120.77 | +0.08 | near the usual relationship |
| 2025-11-19 | 114.56 | 122.75 | +0.14 | near the usual relationship |
| 2025-11-18 | 113.72 | 121.19 | +0.23 | near the usual relationship |
| 2025-11-17 | 113.37 | 121.58 | +0.10 | near the usual relationship |
| 2025-11-14 | 115.86 | 122.89 | +0.30 | near the usual relationship |
| 2025-11-13 | 116.43 | 125.27 | +0.03 | near the usual relationship |
| 2025-11-12 | 119.16 | 129.69 | -0.19 | near the usual relationship |
| 2025-11-11 | 118.10 | 127.75 | -0.09 | near the usual relationship |
| 2025-11-10 | 117.64 | 128.26 | -0.24 | near the usual relationship |
| 2025-11-07 | 117.15 | 127.18 | -0.17 | near the usual relationship |
| 2025-11-06 | 117.35 | 126.86 | -0.10 | near the usual relationship |
| 2025-11-05 | 115.50 | 126.16 | -0.29 | near the usual relationship |
| 2025-11-04 | 117.90 | 125.17 | +0.21 | near the usual relationship |
| 2025-11-03 | 117.95 | 125.21 | +0.21 | near the usual relationship |
| 2025-10-31 | 117.71 | 125.93 | +0.06 | near the usual relationship |
| 2025-10-30 | 116.78 | 125.25 | +0.01 | near the usual relationship |
| 2025-10-29 | 115.79 | 123.66 | +0.08 | near the usual relationship |
| 2025-10-28 | 116.43 | 123.60 | +0.17 | near the usual relationship |
| 2025-10-27 | 116.76 | 123.11 | +0.28 | near the usual relationship |
| 2025-10-24 | 115.77 | 121.61 | +0.34 | near the usual relationship |
| 2025-10-23 | 113.98 | 119.22 | +0.41 | near the usual relationship |
| 2025-10-22 | 112.53 | 119.04 | +0.21 | near the usual relationship |
| 2025-10-21 | 113.46 | 120.25 | +0.17 | near the usual relationship |
| 2025-10-20 | 114.60 | 122.38 | +0.04 | near the usual relationship |
| 2025-10-17 | 112.93 | 120.44 | +0.05 | near the usual relationship |
| 2025-10-16 | 111.08 | 120.84 | -0.28 | near the usual relationship |
| 2025-10-15 | 115.13 | 123.73 | -0.09 | near the usual relationship |
| 2025-10-14 | 110.31 | 122.27 | -0.60 | JPM ahead |
| 2025-10-13 | 107.60 | 124.65 | -1.34 | JPM ahead |
| 2025-10-10 | 107.13 | 121.79 | -1.04 | JPM ahead |
| 2025-10-09 | 109.65 | 123.67 | -0.91 | JPM ahead |
| 2025-10-08 | 109.76 | 123.06 | -0.82 | JPM ahead |
| 2025-10-07 | 110.75 | 124.54 | -0.88 | JPM ahead |
| 2025-10-06 | 110.97 | 125.14 | -0.93 | JPM ahead |
| 2025-10-03 | 111.52 | 125.49 | -0.90 | JPM ahead |
| 2025-10-02 | 111.16 | 124.48 | -0.83 | JPM ahead |
| 2025-10-01 | 111.61 | 125.76 | -0.94 | JPM ahead |
| 2025-09-30 | 113.61 | 127.67 | -0.90 | JPM ahead |
| 2025-09-29 | 115.44 | 127.78 | -0.67 | JPM ahead |
| 2025-09-26 | 114.97 | 127.93 | -0.76 | JPM ahead |
| 2025-09-25 | 114.18 | 126.87 | -0.74 | JPM ahead |
| 2025-09-24 | 113.85 | 126.86 | -0.79 | JPM ahead |
| 2025-09-23 | 113.85 | 126.58 | -0.76 | JPM ahead |
| 2025-09-22 | 114.34 | 126.46 | -0.69 | JPM ahead |
| 2025-09-19 | 115.06 | 127.41 | -0.71 | JPM ahead |
| 2025-09-18 | 114.80 | 126.78 | -0.68 | JPM ahead |
| 2025-09-17 | 113.19 | 126.18 | -0.83 | JPM ahead |
| 2025-09-16 | 111.56 | 125.15 | -0.93 | JPM ahead |
| 2025-09-15 | 111.41 | 125.03 | -0.95 | JPM ahead |
| 2025-09-12 | 111.39 | 124.22 | -0.86 | JPM ahead |
| 2025-09-11 | 111.76 | 123.68 | -0.74 | JPM ahead |
| 2025-09-10 | 110.39 | 121.65 | -0.68 | JPM ahead |
| 2025-09-09 | 110.75 | 120.56 | -0.50 | JPM ahead |
| 2025-09-08 | 108.92 | 118.56 | -0.50 | JPM ahead |
| 2025-09-05 | 109.60 | 119.15 | -0.49 | near the usual relationship |
| 2025-09-04 | 111.47 | 122.97 | -0.72 | JPM ahead |
| 2025-09-03 | 110.24 | 121.23 | -0.68 | JPM ahead |
| 2025-09-02 | 111.03 | 121.31 | -0.58 | JPM ahead |
| 2025-08-29 | 111.74 | 122.00 | -0.57 | JPM ahead |
| 2025-08-28 | 111.19 | 121.86 | -0.64 | JPM ahead |
| 2025-08-27 | 110.94 | 121.14 | -0.58 | JPM ahead |
| 2025-08-26 | 110.66 | 120.85 | -0.59 | JPM ahead |
| 2025-08-25 | 108.96 | 119.36 | -0.64 | JPM ahead |
| 2025-08-22 | 108.96 | 119.91 | -0.72 | JPM ahead |
| 2025-08-21 | 106.28 | 117.98 | -0.86 | JPM ahead |
| 2025-08-20 | 106.47 | 118.29 | -0.88 | JPM ahead |
| 2025-08-19 | 105.88 | 117.65 | -0.89 | JPM ahead |
| 2025-08-18 | 105.53 | 118.00 | -1.00 | JPM ahead |
| 2025-08-15 | 103.37 | 117.58 | -1.27 | JPM ahead |
| 2025-08-14 | 105.06 | 119.06 | -1.22 | JPM ahead |
| 2025-08-13 | 104.03 | 117.59 | -1.19 | JPM ahead |
| 2025-08-12 | 104.60 | 118.53 | -1.24 | JPM ahead |
| 2025-08-11 | 101.65 | 117.20 | -1.53 | JPM ahead |
| 2025-08-08 | 101.32 | 116.88 | -1.55 | JPM ahead |
| 2025-08-07 | 98.92 | 116.14 | -1.85 | JPM ahead |
| 2025-08-06 | 100.02 | 117.93 | -1.94 | JPM ahead |
| 2025-08-05 | 100.33 | 117.93 | -1.91 | JPM ahead |
| 2025-08-04 | 100.97 | 119.10 | -1.99 | JPM ahead |
| 2025-08-01 | 100.55 | 117.13 | -1.80 | JPM ahead |
| 2025-07-31 | 104.10 | 119.91 | -1.64 | JPM ahead |
| 2025-07-30 | 105.62 | 121.28 | -1.60 | JPM ahead |
| 2025-07-29 | 105.59 | 120.23 | -1.47 | JPM ahead |
| 2025-07-28 | 106.21 | 120.73 | -1.45 | JPM ahead |
| 2025-07-25 | 106.69 | 120.87 | -1.40 | JPM ahead |
| 2025-07-24 | 106.56 | 120.03 | -1.32 | JPM ahead |
| 2025-07-23 | 106.01 | 120.12 | -1.42 | JPM ahead |
| 2025-07-22 | 105.20 | 117.96 | -1.26 | JPM ahead |
| 2025-07-21 | 104.56 | 117.77 | -1.34 | JPM ahead |
| 2025-07-18 | 104.21 | 117.89 | -1.41 | JPM ahead |
| 2025-07-17 | 103.55 | 117.34 | -1.45 | JPM ahead |
| 2025-07-16 | 101.37 | 115.69 | -1.57 | JPM ahead |
| 2025-07-15 | 101.63 | 115.98 | -1.58 | JPM ahead |
| 2025-07-14 | 103.66 | 116.85 | -1.40 | JPM ahead |
| 2025-07-11 | 102.91 | 116.11 | -1.42 | JPM ahead |
| 2025-07-10 | 103.44 | 116.65 | -1.42 | JPM ahead |
| 2025-07-09 | 103.15 | 114.61 | -1.21 | JPM ahead |
| 2025-07-08 | 103.83 | 114.46 | -1.09 | JPM ahead |
| 2025-07-07 | 107.16 | 118.18 | -1.11 | JPM ahead |
| 2025-07-03 | 107.75 | 119.81 | -1.24 | JPM ahead |
| 2025-07-02 | 107.27 | 118.19 | -1.11 | JPM ahead |
| 2025-07-01 | 106.03 | 117.55 | -1.22 | JPM ahead |
| 2025-06-30 | 104.21 | 117.34 | -1.46 | JPM ahead |
| 2025-06-27 | 103.77 | 116.21 | -1.39 | JPM ahead |
| 2025-06-26 | 104.51 | 116.87 | -1.38 | JPM ahead |
| 2025-06-25 | 103.17 | 114.98 | -1.34 | JPM ahead |
| 2025-06-24 | 102.75 | 113.84 | -1.26 | JPM ahead |
| 2025-06-23 | 101.96 | 112.63 | -1.22 | JPM ahead |
| 2025-06-20 | 100.20 | 111.31 | -1.31 | JPM ahead |
| 2025-06-18 | 99.23 | 110.89 | -1.41 | JPM ahead |
| 2025-06-17 | 97.40 | 109.09 | -1.46 | JPM ahead |
| 2025-06-16 | 97.80 | 109.43 | -1.45 | JPM ahead |
| 2025-06-13 | 97.09 | 107.24 | -1.27 | JPM ahead |
| 2025-06-12 | 98.26 | 108.57 | -1.28 | JPM ahead |
| 2025-06-11 | 98.50 | 108.54 | -1.25 | JPM ahead |
| 2025-06-10 | 99.30 | 108.72 | -1.17 | JPM ahead |
| 2025-06-09 | 98.81 | 107.97 | -1.14 | JPM ahead |
| 2025-06-06 | 99.03 | 107.56 | -1.06 | JPM ahead |
| 2025-06-05 | 97.73 | 106.03 | -1.05 | JPM ahead |
| 2025-06-04 | 97.69 | 106.95 | -1.20 | JPM ahead |
| 2025-06-03 | 98.33 | 107.78 | -1.23 | JPM ahead |
| 2025-06-02 | 97.07 | 107.12 | -1.34 | JPM ahead |
| 2025-05-30 | 97.18 | 106.86 | -1.29 | JPM ahead |
| 2025-05-29 | 97.42 | 107.01 | -1.29 | JPM ahead |
| 2025-05-28 | 97.03 | 106.65 | -1.31 | JPM ahead |
| 2025-05-27 | 97.38 | 107.38 | -1.37 | JPM ahead |
| 2025-05-23 | 95.13 | 105.52 | -1.47 | JPM ahead |
| 2025-05-22 | 95.38 | 105.51 | -1.44 | JPM ahead |
| 2025-05-21 | 95.24 | 105.66 | -1.49 | JPM ahead |
| 2025-05-20 | 98.41 | 107.54 | -1.28 | JPM ahead |
| 2025-05-19 | 98.59 | 107.21 | -1.22 | JPM ahead |
| 2025-05-16 | 98.41 | 108.30 | -1.41 | JPM ahead |
| 2025-05-15 | 97.73 | 108.27 | -1.52 | JPM ahead |
| 2025-05-14 | 98.52 | 107.52 | -1.31 | JPM ahead |
| 2025-05-13 | 97.51 | 106.46 | -1.33 | JPM ahead |
| 2025-05-12 | 95.49 | 105.26 | -1.48 | JPM ahead |
| 2025-05-09 | 92.03 | 102.44 | -1.65 | JPM ahead |
| 2025-05-08 | 91.61 | 102.59 | -1.76 | JPM ahead |
| 2025-05-07 | 90.13 | 100.94 | -1.78 | JPM ahead |
| 2025-05-06 | 89.94 | 100.89 | -1.82 | JPM ahead |
| 2025-05-05 | 90.55 | 102.23 | -1.94 | JPM ahead |
| 2025-05-02 | 90.44 | 102.21 | -1.98 | JPM ahead |
| 2025-05-01 | 88.46 | 99.93 | -2.00 | JPM ahead |
| 2025-04-30 | 87.82 | 99.01 | -1.99 | JPM ahead |
| 2025-04-29 | 88.06 | 99.01 | -1.97 | JPM ahead |
| 2025-04-28 | 87.60 | 98.45 | -1.99 | JPM ahead |
| 2025-04-25 | 87.40 | 98.58 | -2.07 | JPM ahead |
| 2025-04-24 | 87.16 | 99.02 | -2.22 | JPM ahead |
| 2025-04-23 | 85.33 | 97.50 | -2.34 | JPM ahead |
| 2025-04-22 | 84.39 | 95.36 | -2.19 | JPM ahead |
| 2025-04-21 | 81.30 | 92.69 | -2.37 | JPM ahead |
| 2025-04-17 | 82.38 | 93.89 | -2.40 | JPM ahead |
| 2025-04-16 | 82.21 | 92.94 | -2.30 | JPM ahead |
| 2025-04-15 | 83.66 | 94.36 | -2.29 | JPM ahead |
| 2025-04-14 | 80.75 | 95.01 | -3.08 | JPM ahead |
| 2025-04-11 | 79.17 | 95.60 | -3.64 | JPM ahead |
| 2025-04-10 | 78.95 | 91.93 | -3.06 | JPM ahead |
| 2025-04-09 | 81.81 | 94.85 | -3.05 | JPM ahead |
| 2025-04-08 | 77.14 | 87.78 | -2.76 | JPM ahead |
| 2025-04-07 | 78.35 | 86.80 | -2.28 | JPM ahead |
| 2025-04-04 | 75.73 | 85.11 | -2.60 | JPM ahead |
| 2025-04-03 | 81.96 | 92.56 | -2.75 | JPM ahead |
| 2025-04-02 | 92.16 | 99.50 | -1.89 | JPM ahead |
| 2025-04-01 | 91.37 | 98.62 | -1.91 | JPM ahead |
| 2025-03-31 | 91.90 | 99.29 | -1.95 | JPM ahead |
| 2025-03-28 | 90.84 | 98.30 | -2.00 | JPM ahead |
| 2025-03-27 | 93.72 | 100.43 | -1.83 | JPM ahead |
| 2025-03-26 | 94.30 | 101.61 | -1.96 | JPM ahead |
| 2025-03-25 | 95.31 | 101.65 | -1.77 | JPM ahead |
| 2025-03-24 | 94.85 | 100.40 | -1.63 | JPM ahead |
| 2025-03-21 | 93.53 | 97.80 | -1.39 | JPM ahead |
| 2025-03-20 | 93.55 | 96.74 | -1.17 | JPM ahead |
| 2025-03-19 | 92.95 | 96.78 | -1.32 | JPM ahead |
| 2025-03-18 | 91.72 | 95.11 | -1.24 | JPM ahead |
| 2025-03-17 | 91.26 | 94.69 | -1.26 | JPM ahead |
| 2025-03-14 | 90.05 | 94.08 | -1.42 | JPM ahead |
| 2025-03-13 | 87.36 | 91.15 | -1.40 | JPM ahead |
| 2025-03-12 | 87.89 | 92.24 | -1.54 | JPM ahead |
| 2025-03-11 | 87.23 | 92.75 | -1.84 | JPM ahead |
| 2025-03-10 | 87.71 | 93.99 | -2.03 | JPM ahead |
| 2025-03-07 | 91.17 | 98.07 | -2.13 | JPM ahead |
| 2025-03-06 | 91.30 | 99.79 | -2.52 | JPM ahead |
| 2025-03-05 | 93.13 | 101.81 | -2.57 | JPM ahead |
| 2025-03-04 | 93.97 | 101.29 | -2.28 | JPM ahead |
| 2025-03-03 | 100.33 | 105.49 | -1.74 | JPM ahead |
| 2025-02-28 | 101.52 | 107.12 | -1.84 | JPM ahead |
| 2025-02-27 | 97.16 | 104.85 | -2.38 | JPM ahead |
| 2025-02-26 | 96.76 | 104.75 | -2.49 | JPM ahead |
| 2025-02-25 | 96.76 | 104.19 | -2.39 | JPM ahead |
| 2025-02-24 | 97.91 | 105.78 | -2.51 | JPM ahead |
| 2025-02-21 | 98.68 | 106.95 | -2.64 | JPM ahead |
| 2025-02-20 | 99.76 | 107.99 | -2.65 | JPM ahead |
| 2025-02-19 | 101.32 | 113.03 | -3.48 | JPM ahead |
| 2025-02-18 | 102.47 | 113.31 | -3.35 | JPM ahead |
| 2025-02-14 | 103.41 | 111.95 | -2.86 | JPM ahead |
| 2025-02-13 | 102.03 | 111.84 | -3.27 | JPM ahead |
| 2025-02-12 | 101.76 | 111.49 | -3.33 | JPM ahead |
| 2025-02-11 | 103.04 | 111.30 | -3.02 | JPM ahead |
| 2025-02-10 | 102.77 | 109.71 | -2.74 | JPM ahead |
| 2025-02-07 | 104.38 | 111.63 | -2.84 | JPM ahead |
| 2025-02-06 | 105.13 | 112.08 | -2.81 | JPM ahead |
| 2025-02-05 | 103.74 | 109.46 | -2.55 | JPM ahead |
| 2025-02-04 | 102.86 | 108.45 | -2.57 | JPM ahead |
| 2025-02-03 | 101.76 | 107.99 | -2.82 | JPM ahead |
| 2025-01-31 | 101.96 | 108.19 | -2.87 | JPM ahead |
| 2025-01-30 | 102.88 | 108.57 | -2.76 | JPM ahead |
| 2025-01-29 | 102.95 | 107.90 | -2.59 | JPM ahead |
| 2025-01-28 | 103.15 | 108.13 | -2.64 | JPM ahead |
| 2025-01-27 | 103.70 | 107.61 | -2.36 | JPM ahead |
| 2025-01-24 | 102.44 | 107.20 | -2.67 | JPM ahead |
| 2025-01-23 | 102.16 | 107.65 | -2.96 | JPM ahead |
| 2025-01-22 | 100.84 | 106.39 | -3.07 | JPM ahead |
| 2025-01-21 | 102.75 | 106.46 | -2.50 | JPM ahead |
| 2025-01-17 | 102.47 | 104.90 | -2.11 | JPM ahead |
| 2025-01-16 | 102.71 | 102.92 | -1.39 | JPM ahead |
| 2025-01-15 | 103.72 | 102.14 | -0.80 | JPM ahead |
| 2025-01-14 | 100.81 | 100.17 | -1.11 | JPM ahead |
| 2025-01-13 | 99.23 | 98.85 | -1.21 | JPM ahead |
| 2025-01-10 | 99.34 | 97.09 | -0.56 | JPM ahead |
| 2025-01-08 | 101.76 | 98.41 | -0.20 | near the usual relationship |
| 2025-01-07 | 101.48 | 98.43 | -0.31 | near the usual relationship |
| 2025-01-06 | 99.98 | 97.49 | -0.49 | near the usual relationship |
| 2025-01-03 | 98.68 | 98.47 | -1.29 | JPM ahead |
| 2025-01-02 | 97.53 | 97.14 | -1.24 | JPM ahead |
| 2024-12-31 | 96.78 | 97.03 | -1.47 | JPM ahead |
| 2024-12-30 | 96.70 | 96.87 | -1.46 | JPM ahead |
| 2024-12-27 | 97.64 | 97.62 | -1.40 | JPM ahead |
| 2024-12-26 | 98.11 | 98.41 | -1.53 | JPM ahead |
| 2024-12-24 | 97.73 | 98.08 | -1.56 | JPM ahead |
| 2024-12-23 | 96.65 | 96.49 | -1.39 | JPM ahead |
| 2024-12-20 | 97.27 | 96.17 | -1.07 | JPM ahead |
| 2024-12-19 | 95.53 | 94.29 | -1.02 | JPM ahead |
| 2024-12-18 | 95.79 | 93.24 | -0.54 | JPM ahead |
| 2024-12-17 | 99.21 | 96.48 | -0.52 | JPM ahead |
| 2024-12-16 | 100.13 | 96.97 | -0.38 | near the usual relationship |
| 2024-12-13 | 100.57 | 97.12 | -0.29 | near the usual relationship |
| 2024-12-12 | 101.48 | 97.76 | -0.21 | near the usual relationship |
| 2024-12-11 | 101.48 | 98.57 | -0.49 | near the usual relationship |
| 2024-12-10 | 100.75 | 98.30 | -0.65 | JPM ahead |
| 2024-12-09 | 101.10 | 98.68 | -0.66 | JPM ahead |
| 2024-12-06 | 102.95 | 100.12 | -0.55 | JPM ahead |
| 2024-12-05 | 103.50 | 99.36 | -0.11 | near the usual relationship |
| 2024-12-04 | 102.11 | 98.52 | -0.28 | near the usual relationship |
| 2024-12-03 | 103.11 | 99.09 | -0.16 | near the usual relationship |
| 2024-12-02 | 103.59 | 99.67 | -0.20 | near the usual relationship |
| 2024-11-29 | 104.62 | 101.08 | -0.34 | near the usual relationship |
| 2024-11-27 | 105.20 | 101.10 | -0.17 | near the usual relationship |
| 2024-11-26 | 105.15 | 101.18 | -0.21 | near the usual relationship |
| 2024-11-25 | 104.60 | 101.31 | -0.43 | near the usual relationship |
| 2024-11-22 | 103.50 | 100.60 | -0.55 | JPM ahead |
| 2024-11-21 | 102.31 | 99.07 | -0.43 | near the usual relationship |
| 2024-11-20 | 101.43 | 97.46 | -0.17 | near the usual relationship |
| 2024-11-19 | 102.20 | 98.39 | -0.24 | near the usual relationship |
| 2024-11-18 | 102.88 | 99.18 | -0.29 | near the usual relationship |
| 2024-11-15 | 102.95 | 99.29 | -0.31 | near the usual relationship |
| 2024-11-14 | 101.08 | 97.90 | -0.45 | near the usual relationship |
| 2024-11-13 | 101.01 | 97.61 | -0.38 | near the usual relationship |
| 2024-11-12 | 100.99 | 96.96 | -0.16 | near the usual relationship |
| 2024-11-11 | 101.48 | 96.86 | +0.04 | near the usual relationship |
| 2024-11-08 | 99.38 | 95.92 | -0.33 | near the usual relationship |
| 2024-11-07 | 98.59 | 95.68 | -0.52 | JPM ahead |
| 2024-11-06 | 100.00 | 100.00 | -1.53 | JPM ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Apr 3, 2025 (BAC -11.1%, JPM -7.0%); Oct 14, 2025 (BAC +2.5%, JPM -1.9%); Oct 14, 2026 (BAC -4.8%, JPM +1.2%).
The shared paper book and the replay, kept apart
Forward paper record
| Legs | Signal | Entered | Status | Exit | Net |
|---|---|---|---|---|---|
| Long BAC · Short JPM | Oct 13, 2026 (2.13 sd) | Oct 14, 2026 | closed | Oct 15, 2026, divergence stop | -$0.58 |
| Long BAC · Short JPM | Oct 12, 2026 (2.01 sd) | - | cancelled: superseded by a newer close | - | - |
Historical simulation (a diagnostic, same rules)
6 simulated trades to Nov 3, 2026: +3.80% per trade on average after costs, 5 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long BAC · Short JPM | Oct 2, 2026 | Oct 15, 2026 | divergence stop | 13 | -$543.80 | -$25.12 | -$567.94 (-5.68%) |
| Long JPM · Short BAC | Apr 16, 2026 | May 13, 2026 | converged | 27 | $582.24 | -$27.00 | $553.28 (+5.53%) |
| Long BAC · Short JPM | Aug 21, 2024 | Sep 20, 2024 | converged | 30 | $656.75 | -$28.08 | $630.73 (+6.31%) |
| Long JPM · Short BAC | Jul 17, 2024 | Jul 31, 2024 | converged | 14 | $599.26 | -$25.43 | $572.82 (+5.73%) |
| Long JPM · Short BAC | Aug 5, 2020 | Oct 2, 2020 | converged | 58 | $597.44 | -$31.54 | $577.85 (+5.78%) |
| Long BAC · Short JPM | Jul 20, 2020 | Jul 29, 2020 | converged | 9 | $540.99 | -$25.44 | $513.73 (+5.14%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
BAC and JPM at a glance
BAC Bank of America Corporation
- Listing
- NYSE · SEC CIK 70858
- Industry
- Major Banks · SIC 6021 National Commercial Banks
- Market value
- $342.7B
- Price history
- 2,534 daily closes, Oct 12, 2016 to Nov 10, 2026
JPM JP Morgan Chase & Co.
- Listing
- NYSE · SEC CIK 19617
- Industry
- Major Banks · SIC 6021 National Commercial Banks
- Market value
- $898.4B
- Price history
- 2,533 daily closes, Oct 12, 2016 to Nov 10, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Other rivals of BAC and JPM
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Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
