Bank of America Corporation vs JP Morgan Chase & Co.
Why these are rivals: #1 and #2 by market value ($887B vs $352B) in Nasdaq's "Major Banks" industry; SEC SIC 6021 / 6021 (same major group); #1 and #2 by market value ($887B vs $352B) 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: -0.42 (needs <= -2.873 (5% critical value))
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 $352.4B, JPM $886.6B.
JPM is ahead now
Measured against the pair's own last 252 trading days.
JPM leads BAC by 3.98 standard deviations: +12.7% over its usual price ratio. 5 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| BAC | -17.7% | -2.6% | -0.9% |
| JPM | -4.7% | +8.0% | +13.3% |
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2520 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.74 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -0.42 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 26.79 (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 |
|---|---|---|---|---|
| 2026-10-22 | 120.70 | 149.33 | -3.98 | JPM ahead |
| 2026-10-21 | 119.99 | 148.73 | -4.20 | JPM ahead |
| 2026-10-20 | 119.66 | 148.76 | -4.49 | JPM ahead |
| 2026-10-19 | 119.07 | 147.99 | -4.69 | JPM ahead |
| 2026-10-16 | 121.05 | 150.74 | -5.01 | JPM ahead |
| 2026-10-15 | 122.16 | 148.88 | -4.32 | JPM ahead |
| 2026-10-14 | 121.43 | 148.77 | -4.64 | JPM ahead |
| 2026-10-13 | 127.50 | 147.06 | -2.13 | JPM ahead |
| 2026-10-12 | 128.97 | 148.33 | -2.01 | JPM ahead |
| 2026-10-09 | 128.36 | 147.75 | -2.05 | JPM ahead |
| 2026-10-08 | 126.68 | 147.06 | -2.41 | JPM ahead |
| 2026-10-07 | 126.47 | 146.24 | -2.25 | JPM ahead |
| 2026-10-06 | 127.81 | 146.99 | -2.03 | JPM ahead |
| 2026-10-05 | 127.60 | 147.48 | -2.24 | JPM ahead |
| 2026-10-02 | 127.01 | 147.48 | -2.45 | JPM ahead |
| 2026-10-01 | 126.96 | 147.84 | -2.58 | JPM ahead |
| 2026-09-30 | 128.62 | 146.79 | -1.74 | JPM ahead |
| 2026-09-29 | 129.87 | 148.64 | -1.86 | JPM ahead |
| 2026-09-28 | 131.07 | 149.35 | -1.68 | JPM ahead |
| 2026-09-25 | 133.98 | 152.22 | -1.55 | JPM ahead |
| 2026-09-24 | 132.40 | 150.22 | -1.50 | JPM ahead |
| 2026-09-23 | 132.33 | 149.77 | -1.39 | JPM ahead |
| 2026-09-22 | 132.80 | 150.86 | -1.55 | JPM ahead |
| 2026-09-21 | 136.96 | 156.21 | -1.73 | JPM ahead |
| 2026-09-18 | 136.41 | 155.15 | -1.61 | JPM ahead |
| 2026-09-17 | 137.48 | 154.99 | -1.23 | JPM ahead |
| 2026-09-16 | 136.81 | 154.82 | -1.38 | JPM ahead |
| 2026-09-15 | 140.64 | 156.41 | -0.64 | JPM ahead |
| 2026-09-14 | 140.52 | 155.36 | -0.38 | near the usual relationship |
| 2026-09-11 | 148.13 | 158.06 | +1.11 | BAC ahead |
| 2026-09-10 | 147.83 | 156.88 | +1.34 | BAC ahead |
| 2026-09-09 | 148.09 | 157.39 | +1.29 | BAC ahead |
| 2026-09-08 | 147.42 | 156.86 | +1.26 | BAC ahead |
| 2026-09-04 | 148.11 | 159.13 | +0.85 | BAC ahead |
| 2026-09-03 | 148.96 | 160.65 | +0.70 | BAC ahead |
| 2026-09-02 | 147.92 | 158.06 | +1.10 | BAC ahead |
| 2026-09-01 | 146.48 | 157.50 | +0.84 | BAC ahead |
| 2026-08-31 | 146.36 | 157.97 | +0.69 | BAC ahead |
| 2026-08-28 | 147.26 | 158.68 | +0.76 | BAC ahead |
| 2026-08-27 | 144.54 | 157.17 | +0.39 | near the usual relationship |
| 2026-08-26 | 147.05 | 158.18 | +0.84 | BAC ahead |
| 2026-08-25 | 147.52 | 158.27 | +0.96 | BAC ahead |
| 2026-08-24 | 147.28 | 158.14 | +0.94 | BAC ahead |
| 2026-08-21 | 145.77 | 156.00 | +1.09 | BAC ahead |
| 2026-08-20 | 146.17 | 155.99 | +1.21 | BAC ahead |
| 2026-08-19 | 149.27 | 158.52 | +1.43 | BAC ahead |
| 2026-08-18 | 151.77 | 161.18 | +1.43 | BAC ahead |
| 2026-08-17 | 150.97 | 160.16 | +1.48 | BAC ahead |
| 2026-08-14 | 152.39 | 161.00 | +1.66 | BAC ahead |
| 2026-08-13 | 151.44 | 161.12 | +1.38 | BAC ahead |
| 2026-08-12 | 153.14 | 162.04 | +1.61 | BAC ahead |
| 2026-08-11 | 151.23 | 160.64 | +1.45 | BAC ahead |
| 2026-08-10 | 150.90 | 159.64 | +1.60 | BAC ahead |
| 2026-08-07 | 149.27 | 158.64 | +1.42 | BAC ahead |
| 2026-08-06 | 148.87 | 158.10 | +1.44 | BAC ahead |
| 2026-08-05 | 149.46 | 159.40 | +1.27 | BAC ahead |
| 2026-08-04 | 148.63 | 158.64 | +1.24 | BAC ahead |
| 2026-08-03 | 147.64 | 156.47 | +1.51 | BAC ahead |
| 2026-07-31 | 146.38 | 156.09 | +1.29 | BAC ahead |
| 2026-07-30 | 145.86 | 155.68 | +1.27 | BAC ahead |
| 2026-07-29 | 144.31 | 152.95 | +1.53 | BAC ahead |
| 2026-07-28 | 147.97 | 158.54 | +1.14 | BAC ahead |
| 2026-07-27 | 146.81 | 158.05 | +0.98 | BAC ahead |
| 2026-07-24 | 146.62 | 156.72 | +1.25 | BAC ahead |
| 2026-07-23 | 144.80 | 155.26 | +1.14 | BAC ahead |
| 2026-07-22 | 145.60 | 154.51 | +1.53 | BAC ahead |
| 2026-07-21 | 144.66 | 153.18 | +1.62 | BAC ahead |
| 2026-07-20 | 142.77 | 150.36 | +1.83 | BAC ahead |
| 2026-07-17 | 144.78 | 151.35 | +2.12 | BAC ahead |
| 2026-07-16 | 145.30 | 152.26 | +2.05 | BAC ahead |
| 2026-07-15 | 145.53 | 153.93 | +1.73 | BAC ahead |
| 2026-07-14 | 143.24 | 152.15 | +1.59 | BAC ahead |
| 2026-07-13 | 140.60 | 148.44 | +1.83 | BAC ahead |
| 2026-07-10 | 141.00 | 149.30 | +1.74 | BAC ahead |
| 2026-07-09 | 140.00 | 148.85 | +1.60 | BAC ahead |
| 2026-07-08 | 137.76 | 146.70 | +1.56 | BAC ahead |
| 2026-07-07 | 141.45 | 150.52 | +1.60 | BAC ahead |
| 2026-07-06 | 141.54 | 149.85 | +1.81 | BAC ahead |
| 2026-07-02 | 138.78 | 148.41 | +1.45 | BAC ahead |
| 2026-07-01 | 137.90 | 148.23 | +1.27 | BAC ahead |
| 2026-06-30 | 134.64 | 145.24 | +1.15 | BAC ahead |
| 2026-06-29 | 136.77 | 146.16 | +1.51 | BAC ahead |
| 2026-06-26 | 136.77 | 146.00 | +1.56 | BAC ahead |
| 2026-06-25 | 137.50 | 148.70 | +1.09 | BAC ahead |
| 2026-06-24 | 136.41 | 147.96 | +0.98 | BAC ahead |
| 2026-06-23 | 136.84 | 148.26 | +1.03 | BAC ahead |
| 2026-06-22 | 135.56 | 147.08 | +0.99 | BAC ahead |
| 2026-06-18 | 132.80 | 144.30 | +0.94 | BAC ahead |
| 2026-06-17 | 133.58 | 147.96 | +0.22 | near the usual relationship |
| 2026-06-16 | 134.31 | 146.93 | +0.69 | BAC ahead |
| 2026-06-15 | 132.02 | 141.72 | +1.41 | BAC ahead |
| 2026-06-12 | 132.37 | 142.31 | +1.37 | BAC ahead |
| 2026-06-11 | 130.34 | 139.10 | +1.67 | BAC ahead |
| 2026-06-10 | 128.88 | 137.17 | +1.79 | BAC ahead |
| 2026-06-09 | 128.59 | 138.75 | +1.27 | BAC ahead |
| 2026-06-08 | 126.72 | 138.04 | +0.91 | BAC ahead |
| 2026-06-05 | 127.20 | 138.60 | +0.90 | BAC ahead |
| 2026-06-04 | 128.00 | 137.95 | +1.34 | BAC ahead |
| 2026-06-03 | 123.82 | 133.49 | +1.33 | BAC ahead |
| 2026-06-02 | 124.01 | 133.54 | +1.39 | BAC ahead |
| 2026-06-01 | 121.72 | 131.60 | +1.24 | BAC ahead |
| 2026-05-29 | 121.93 | 132.81 | +0.96 | BAC ahead |
| 2026-05-28 | 119.97 | 131.66 | +0.67 | BAC ahead |
| 2026-05-27 | 120.75 | 132.79 | +0.59 | BAC ahead |
| 2026-05-26 | 123.35 | 136.11 | +0.46 | near the usual relationship |
| 2026-05-22 | 122.40 | 135.95 | +0.21 | near the usual relationship |
| 2026-05-21 | 121.67 | 134.45 | +0.41 | near the usual relationship |
| 2026-05-20 | 121.05 | 133.99 | +0.35 | near the usual relationship |
| 2026-05-19 | 119.80 | 131.21 | +0.77 | BAC ahead |
| 2026-05-18 | 119.78 | 133.44 | +0.10 | near the usual relationship |
| 2026-05-15 | 117.60 | 132.14 | -0.24 | near the usual relationship |
| 2026-05-14 | 117.79 | 133.07 | -0.45 | near the usual relationship |
| 2026-05-13 | 117.77 | 133.23 | -0.50 | JPM ahead |
| 2026-05-12 | 119.99 | 135.28 | -0.37 | near the usual relationship |
| 2026-05-11 | 119.45 | 133.11 | +0.09 | near the usual relationship |
| 2026-05-08 | 121.24 | 134.05 | +0.40 | near the usual relationship |
| 2026-05-07 | 124.65 | 135.90 | +0.96 | BAC ahead |
| 2026-05-06 | 126.65 | 139.73 | +0.50 | BAC ahead |
| 2026-05-05 | 125.52 | 137.29 | +0.85 | BAC ahead |
| 2026-05-04 | 123.32 | 136.51 | +0.38 | near the usual relationship |
| 2026-05-01 | 125.80 | 138.65 | +0.56 | BAC ahead |
| 2026-04-30 | 126.32 | 138.98 | +0.63 | BAC ahead |
| 2026-04-29 | 124.95 | 137.22 | +0.71 | BAC ahead |
| 2026-04-28 | 124.43 | 138.19 | +0.28 | near the usual relationship |
| 2026-04-27 | 124.36 | 138.27 | +0.24 | near the usual relationship |
| 2026-04-24 | 122.99 | 136.79 | +0.24 | near the usual relationship |
| 2026-04-23 | 123.98 | 138.30 | +0.13 | near the usual relationship |
| 2026-04-22 | 125.52 | 138.89 | +0.44 | near the usual relationship |
| 2026-04-21 | 126.37 | 138.88 | +0.71 | BAC ahead |
| 2026-04-20 | 127.48 | 140.65 | +0.56 | BAC ahead |
| 2026-04-17 | 127.39 | 137.68 | +1.35 | BAC ahead |
| 2026-04-16 | 126.44 | 137.53 | +1.12 | BAC ahead |
| 2026-04-15 | 128.36 | 135.75 | +2.15 | BAC ahead |
| 2026-04-14 | 126.06 | 138.05 | +0.88 | BAC ahead |
| 2026-04-13 | 126.06 | 139.18 | +0.58 | BAC ahead |
| 2026-04-10 | 124.15 | 137.49 | +0.48 | near the usual relationship |
| 2026-04-09 | 124.55 | 137.70 | +0.55 | BAC ahead |
| 2026-04-08 | 122.59 | 136.65 | +0.25 | near the usual relationship |
| 2026-04-07 | 118.81 | 131.96 | +0.39 | near the usual relationship |
| 2026-04-06 | 118.29 | 131.10 | +0.46 | near the usual relationship |
| 2026-04-02 | 116.68 | 130.72 | +0.07 | near the usual relationship |
| 2026-04-01 | 116.42 | 131.06 | -0.11 | near the usual relationship |
| 2026-03-31 | 115.19 | 130.52 | -0.34 | near the usual relationship |
| 2026-03-30 | 111.60 | 125.91 | -0.19 | near the usual relationship |
| 2026-03-27 | 110.99 | 125.50 | -0.28 | near the usual relationship |
| 2026-03-26 | 113.99 | 129.41 | -0.42 | near the usual relationship |
| 2026-03-25 | 115.19 | 131.08 | -0.51 | JPM ahead |
| 2026-03-24 | 113.75 | 129.74 | -0.60 | JPM ahead |
| 2026-03-23 | 112.29 | 128.64 | -0.76 | JPM ahead |
| 2026-03-20 | 111.44 | 127.15 | -0.63 | JPM ahead |
| 2026-03-19 | 111.08 | 127.78 | -0.92 | JPM ahead |
| 2026-03-18 | 110.66 | 127.67 | -1.03 | JPM ahead |
| 2026-03-17 | 111.72 | 127.30 | -0.60 | JPM ahead |
| 2026-03-16 | 111.20 | 126.97 | -0.68 | JPM ahead |
| 2026-03-13 | 110.40 | 125.77 | -0.61 | JPM ahead |
| 2026-03-12 | 111.37 | 125.52 | -0.25 | near the usual relationship |
| 2026-03-11 | 114.65 | 127.58 | +0.19 | near the usual relationship |
| 2026-03-10 | 114.74 | 128.11 | +0.07 | near the usual relationship |
| 2026-03-09 | 113.19 | 128.64 | -0.54 | JPM ahead |
| 2026-03-06 | 114.93 | 128.45 | +0.04 | near the usual relationship |
| 2026-03-05 | 117.70 | 130.25 | +0.37 | near the usual relationship |
| 2026-03-04 | 118.86 | 132.84 | +0.03 | near the usual relationship |
| 2026-03-03 | 118.08 | 133.23 | -0.30 | near the usual relationship |
| 2026-03-02 | 117.70 | 132.03 | -0.11 | near the usual relationship |
| 2026-02-27 | 117.75 | 133.25 | -0.41 | near the usual relationship |
| 2026-02-26 | 123.58 | 135.83 | +0.58 | BAC ahead |
| 2026-02-25 | 122.14 | 134.58 | +0.50 | BAC ahead |
| 2026-02-24 | 119.12 | 131.92 | +0.33 | near the usual relationship |
| 2026-02-23 | 120.68 | 132.08 | +0.73 | BAC ahead |
| 2026-02-20 | 125.38 | 137.90 | +0.56 | BAC ahead |
| 2026-02-19 | 124.69 | 136.69 | +0.68 | BAC ahead |
| 2026-02-18 | 126.09 | 137.01 | +0.98 | BAC ahead |
| 2026-02-17 | 124.62 | 136.28 | +0.77 | BAC ahead |
| 2026-02-13 | 124.17 | 134.25 | +1.17 | BAC ahead |
| 2026-02-12 | 124.10 | 134.29 | +1.14 | BAC ahead |
| 2026-02-11 | 127.24 | 137.92 | +1.09 | BAC ahead |
| 2026-02-10 | 130.88 | 141.23 | +1.25 | BAC ahead |
| 2026-02-09 | 133.29 | 142.92 | +1.47 | BAC ahead |
| 2026-02-06 | 133.58 | 143.05 | +1.51 | BAC ahead |
| 2026-02-05 | 129.82 | 137.62 | +1.87 | BAC ahead |
| 2026-02-04 | 130.86 | 140.78 | +1.37 | BAC ahead |
| 2026-02-03 | 128.66 | 139.70 | +1.05 | BAC ahead |
| 2026-02-02 | 127.67 | 136.73 | +1.53 | BAC ahead |
| 2026-01-30 | 125.71 | 135.73 | +1.24 | BAC ahead |
| 2026-01-29 | 125.43 | 135.96 | +1.10 | BAC ahead |
| 2026-01-28 | 122.42 | 133.46 | +0.90 | BAC ahead |
| 2026-01-27 | 123.28 | 133.25 | +1.18 | BAC ahead |
| 2026-01-26 | 122.92 | 133.58 | +1.00 | BAC ahead |
| 2026-01-23 | 122.21 | 132.10 | +1.18 | BAC ahead |
| 2026-01-22 | 123.94 | 134.73 | +0.98 | BAC ahead |
| 2026-01-21 | 123.04 | 134.02 | +0.90 | BAC ahead |
| 2026-01-20 | 123.11 | 134.33 | +0.82 | BAC ahead |
| 2026-01-16 | 125.17 | 138.65 | +0.30 | near the usual relationship |
| 2026-01-15 | 124.27 | 137.22 | +0.38 | near the usual relationship |
| 2026-01-14 | 124.01 | 136.61 | +0.44 | near the usual relationship |
| 2026-01-13 | 128.88 | 137.95 | +1.30 | BAC ahead |
| 2026-01-12 | 130.41 | 143.98 | +0.33 | near the usual relationship |
| 2026-01-09 | 131.97 | 146.07 | +0.24 | near the usual relationship |
| 2026-01-08 | 132.75 | 146.33 | +0.34 | near the usual relationship |
| 2026-01-07 | 131.47 | 145.09 | +0.29 | near the usual relationship |
| 2026-01-06 | 135.28 | 148.47 | +0.43 | near the usual relationship |
| 2026-01-05 | 134.43 | 148.22 | +0.29 | near the usual relationship |
| 2026-01-02 | 132.21 | 144.42 | +0.54 | BAC ahead |
| 2025-12-31 | 129.96 | 142.97 | +0.33 | near the usual relationship |
| 2025-12-30 | 130.62 | 143.51 | +0.36 | near the usual relationship |
| 2025-12-29 | 130.79 | 143.65 | +0.35 | near the usual relationship |
| 2025-12-26 | 132.73 | 145.50 | +0.39 | near the usual relationship |
| 2025-12-24 | 132.92 | 146.06 | +0.32 | near the usual relationship |
| 2025-12-23 | 132.25 | 144.62 | +0.43 | near the usual relationship |
| 2025-12-22 | 132.04 | 143.36 | +0.60 | BAC ahead |
| 2025-12-19 | 130.60 | 140.75 | +0.76 | BAC ahead |
| 2025-12-18 | 128.21 | 138.88 | +0.62 | BAC ahead |
| 2025-12-17 | 128.90 | 139.76 | +0.58 | BAC ahead |
| 2025-12-16 | 129.51 | 140.01 | +0.63 | BAC ahead |
| 2025-12-15 | 130.74 | 142.00 | +0.50 | BAC ahead |
| 2025-12-12 | 130.29 | 141.33 | +0.52 | BAC ahead |
| 2025-12-11 | 128.92 | 140.83 | +0.35 | near the usual relationship |
| 2025-12-10 | 127.79 | 137.60 | +0.66 | BAC ahead |
| 2025-12-09 | 126.51 | 133.34 | +1.12 | BAC ahead |
| 2025-12-08 | 127.36 | 139.86 | +0.19 | near the usual relationship |
| 2025-12-05 | 127.48 | 139.79 | +0.21 | near the usual relationship |
| 2025-12-04 | 127.98 | 140.26 | +0.21 | near the usual relationship |
| 2025-12-03 | 127.81 | 138.50 | +0.44 | near the usual relationship |
| 2025-12-02 | 125.69 | 136.61 | +0.36 | near the usual relationship |
| 2025-12-01 | 125.80 | 137.07 | +0.30 | near the usual relationship |
| 2025-11-28 | 126.77 | 138.92 | +0.17 | near the usual relationship |
| 2025-11-26 | 125.21 | 136.50 | +0.27 | near the usual relationship |
| 2025-11-25 | 124.01 | 134.45 | +0.37 | near the usual relationship |
| 2025-11-24 | 122.71 | 132.23 | +0.48 | near the usual relationship |
| 2025-11-21 | 121.83 | 132.24 | +0.33 | near the usual relationship |
| 2025-11-20 | 120.51 | 132.40 | +0.08 | near the usual relationship |
| 2025-11-19 | 122.92 | 134.57 | +0.14 | near the usual relationship |
| 2025-11-18 | 122.02 | 132.85 | +0.23 | near the usual relationship |
| 2025-11-17 | 121.64 | 133.28 | +0.10 | near the usual relationship |
| 2025-11-14 | 124.31 | 134.72 | +0.30 | near the usual relationship |
| 2025-11-13 | 124.93 | 137.32 | +0.03 | near the usual relationship |
| 2025-11-12 | 127.86 | 142.17 | -0.19 | near the usual relationship |
| 2025-11-11 | 126.72 | 140.05 | -0.09 | near the usual relationship |
| 2025-11-10 | 126.23 | 140.61 | -0.24 | near the usual relationship |
| 2025-11-07 | 125.71 | 139.42 | -0.17 | near the usual relationship |
| 2025-11-06 | 125.92 | 139.07 | -0.10 | near the usual relationship |
| 2025-11-05 | 123.94 | 138.30 | -0.29 | near the usual relationship |
| 2025-11-04 | 126.51 | 137.22 | +0.21 | near the usual relationship |
| 2025-11-03 | 126.56 | 137.26 | +0.21 | near the usual relationship |
| 2025-10-31 | 126.30 | 138.05 | +0.06 | near the usual relationship |
| 2025-10-30 | 125.31 | 137.30 | +0.01 | near the usual relationship |
| 2025-10-29 | 124.24 | 135.56 | +0.08 | near the usual relationship |
| 2025-10-28 | 124.93 | 135.49 | +0.17 | near the usual relationship |
| 2025-10-27 | 125.28 | 134.96 | +0.28 | near the usual relationship |
| 2025-10-24 | 124.22 | 133.31 | +0.34 | near the usual relationship |
| 2025-10-23 | 122.31 | 130.69 | +0.41 | near the usual relationship |
| 2025-10-22 | 120.75 | 130.50 | +0.21 | near the usual relationship |
| 2025-10-21 | 121.74 | 131.82 | +0.17 | near the usual relationship |
| 2025-10-20 | 122.97 | 134.16 | +0.04 | near the usual relationship |
| 2025-10-17 | 121.17 | 132.03 | +0.05 | near the usual relationship |
| 2025-10-16 | 119.19 | 132.47 | -0.28 | near the usual relationship |
| 2025-10-15 | 123.53 | 135.64 | -0.09 | near the usual relationship |
| 2025-10-14 | 118.36 | 134.04 | -0.60 | JPM ahead |
| 2025-10-13 | 115.45 | 136.65 | -1.34 | JPM ahead |
| 2025-10-10 | 114.96 | 133.51 | -1.04 | JPM ahead |
| 2025-10-09 | 117.65 | 135.57 | -0.91 | JPM ahead |
| 2025-10-08 | 117.77 | 134.90 | -0.82 | JPM ahead |
| 2025-10-07 | 118.83 | 136.53 | -0.88 | JPM ahead |
| 2025-10-06 | 119.07 | 137.19 | -0.93 | JPM ahead |
| 2025-10-03 | 119.66 | 137.56 | -0.90 | JPM ahead |
| 2025-10-02 | 119.28 | 136.46 | -0.83 | JPM ahead |
| 2025-10-01 | 119.75 | 137.87 | -0.94 | JPM ahead |
| 2025-09-30 | 121.90 | 139.96 | -0.90 | JPM ahead |
| 2025-09-29 | 123.87 | 140.08 | -0.67 | JPM ahead |
| 2025-09-26 | 123.37 | 140.24 | -0.76 | JPM ahead |
| 2025-09-25 | 122.52 | 139.08 | -0.74 | JPM ahead |
| 2025-09-24 | 122.16 | 139.07 | -0.79 | JPM ahead |
| 2025-09-23 | 122.16 | 138.77 | -0.76 | JPM ahead |
| 2025-09-22 | 122.68 | 138.63 | -0.69 | JPM ahead |
| 2025-09-19 | 123.46 | 139.67 | -0.71 | JPM ahead |
| 2025-09-18 | 123.18 | 138.98 | -0.68 | JPM ahead |
| 2025-09-17 | 121.46 | 138.33 | -0.83 | JPM ahead |
| 2025-09-16 | 119.71 | 137.19 | -0.93 | JPM ahead |
| 2025-09-15 | 119.54 | 137.06 | -0.95 | JPM ahead |
| 2025-09-12 | 119.52 | 136.18 | -0.86 | JPM ahead |
| 2025-09-11 | 119.92 | 135.58 | -0.74 | JPM ahead |
| 2025-09-10 | 118.45 | 133.35 | -0.68 | JPM ahead |
| 2025-09-09 | 118.83 | 132.16 | -0.50 | JPM ahead |
| 2025-09-08 | 116.87 | 129.97 | -0.50 | JPM ahead |
| 2025-09-05 | 117.60 | 130.62 | -0.49 | near the usual relationship |
| 2025-09-04 | 119.61 | 134.81 | -0.72 | JPM ahead |
| 2025-09-03 | 118.29 | 132.90 | -0.68 | JPM ahead |
| 2025-09-02 | 119.14 | 132.98 | -0.58 | JPM ahead |
| 2025-08-29 | 119.90 | 133.74 | -0.57 | JPM ahead |
| 2025-08-28 | 119.31 | 133.59 | -0.64 | JPM ahead |
| 2025-08-27 | 119.05 | 132.79 | -0.58 | JPM ahead |
| 2025-08-26 | 118.74 | 132.48 | -0.59 | JPM ahead |
| 2025-08-25 | 116.92 | 130.85 | -0.64 | JPM ahead |
| 2025-08-22 | 116.92 | 131.45 | -0.72 | JPM ahead |
| 2025-08-21 | 114.04 | 129.33 | -0.86 | JPM ahead |
| 2025-08-20 | 114.25 | 129.67 | -0.88 | JPM ahead |
| 2025-08-19 | 113.61 | 128.97 | -0.89 | JPM ahead |
| 2025-08-18 | 113.23 | 129.36 | -1.00 | JPM ahead |
| 2025-08-15 | 110.92 | 128.89 | -1.27 | JPM ahead |
| 2025-08-14 | 112.74 | 130.52 | -1.22 | JPM ahead |
| 2025-08-13 | 111.63 | 128.91 | -1.19 | JPM ahead |
| 2025-08-12 | 112.24 | 129.94 | -1.24 | JPM ahead |
| 2025-08-11 | 109.07 | 128.48 | -1.53 | JPM ahead |
| 2025-08-08 | 108.72 | 128.13 | -1.55 | JPM ahead |
| 2025-08-07 | 106.14 | 127.32 | -1.85 | JPM ahead |
| 2025-08-06 | 107.33 | 129.28 | -1.94 | JPM ahead |
| 2025-08-05 | 107.66 | 129.29 | -1.91 | JPM ahead |
| 2025-08-04 | 108.34 | 130.57 | -1.99 | JPM ahead |
| 2025-08-01 | 107.89 | 128.40 | -1.80 | JPM ahead |
| 2025-07-31 | 111.70 | 131.45 | -1.64 | JPM ahead |
| 2025-07-30 | 113.33 | 132.95 | -1.60 | JPM ahead |
| 2025-07-29 | 113.30 | 131.80 | -1.47 | JPM ahead |
| 2025-07-28 | 113.97 | 132.35 | -1.45 | JPM ahead |
| 2025-07-25 | 114.48 | 132.50 | -1.40 | JPM ahead |
| 2025-07-24 | 114.34 | 131.58 | -1.32 | JPM ahead |
| 2025-07-23 | 113.75 | 131.68 | -1.42 | JPM ahead |
| 2025-07-22 | 112.88 | 129.31 | -1.26 | JPM ahead |
| 2025-07-21 | 112.19 | 129.11 | -1.34 | JPM ahead |
| 2025-07-18 | 111.81 | 129.24 | -1.41 | JPM ahead |
| 2025-07-17 | 111.11 | 128.63 | -1.45 | JPM ahead |
| 2025-07-16 | 108.77 | 126.82 | -1.57 | JPM ahead |
| 2025-07-15 | 109.05 | 127.15 | -1.58 | JPM ahead |
| 2025-07-14 | 111.22 | 128.10 | -1.40 | JPM ahead |
| 2025-07-11 | 110.42 | 127.28 | -1.42 | JPM ahead |
| 2025-07-10 | 110.99 | 127.87 | -1.42 | JPM ahead |
| 2025-07-09 | 110.68 | 125.64 | -1.21 | JPM ahead |
| 2025-07-08 | 111.41 | 125.47 | -1.09 | JPM ahead |
| 2025-07-07 | 114.98 | 129.55 | -1.11 | JPM ahead |
| 2025-07-03 | 115.62 | 131.34 | -1.24 | JPM ahead |
| 2025-07-02 | 115.10 | 129.56 | -1.11 | JPM ahead |
| 2025-07-01 | 113.78 | 128.86 | -1.22 | JPM ahead |
| 2025-06-30 | 111.81 | 128.64 | -1.46 | JPM ahead |
| 2025-06-27 | 111.34 | 127.39 | -1.39 | JPM ahead |
| 2025-06-26 | 112.15 | 128.12 | -1.38 | JPM ahead |
| 2025-06-25 | 110.70 | 126.04 | -1.34 | JPM ahead |
| 2025-06-24 | 110.26 | 124.80 | -1.26 | JPM ahead |
| 2025-06-23 | 109.40 | 123.47 | -1.22 | JPM ahead |
| 2025-06-20 | 107.51 | 122.02 | -1.31 | JPM ahead |
| 2025-06-18 | 106.47 | 121.56 | -1.41 | JPM ahead |
| 2025-06-17 | 104.51 | 119.59 | -1.46 | JPM ahead |
| 2025-06-16 | 104.94 | 119.96 | -1.45 | JPM ahead |
| 2025-06-13 | 104.18 | 117.56 | -1.27 | JPM ahead |
| 2025-06-12 | 105.43 | 119.02 | -1.28 | JPM ahead |
| 2025-06-11 | 105.69 | 118.98 | -1.25 | JPM ahead |
| 2025-06-10 | 106.55 | 119.18 | -1.17 | JPM ahead |
| 2025-06-09 | 106.03 | 118.36 | -1.14 | JPM ahead |
| 2025-06-06 | 106.26 | 117.91 | -1.06 | JPM ahead |
| 2025-06-05 | 104.87 | 116.23 | -1.05 | JPM ahead |
| 2025-06-04 | 104.82 | 117.24 | -1.20 | JPM ahead |
| 2025-06-03 | 105.51 | 118.15 | -1.23 | JPM ahead |
| 2025-06-02 | 104.16 | 117.43 | -1.34 | JPM ahead |
| 2025-05-30 | 104.28 | 117.14 | -1.29 | JPM ahead |
| 2025-05-29 | 104.54 | 117.30 | -1.29 | JPM ahead |
| 2025-05-28 | 104.11 | 116.91 | -1.31 | JPM ahead |
| 2025-05-27 | 104.49 | 117.71 | -1.37 | JPM ahead |
| 2025-05-23 | 102.08 | 115.68 | -1.47 | JPM ahead |
| 2025-05-22 | 102.34 | 115.66 | -1.44 | JPM ahead |
| 2025-05-21 | 102.20 | 115.83 | -1.49 | JPM ahead |
| 2025-05-20 | 105.60 | 117.89 | -1.28 | JPM ahead |
| 2025-05-19 | 105.79 | 117.53 | -1.22 | JPM ahead |
| 2025-05-16 | 105.60 | 118.72 | -1.41 | JPM ahead |
| 2025-05-15 | 104.87 | 118.69 | -1.52 | JPM ahead |
| 2025-05-14 | 105.72 | 117.87 | -1.31 | JPM ahead |
| 2025-05-13 | 104.63 | 116.70 | -1.33 | JPM ahead |
| 2025-05-12 | 102.46 | 115.39 | -1.48 | JPM ahead |
| 2025-05-09 | 98.75 | 112.30 | -1.65 | JPM ahead |
| 2025-05-08 | 98.30 | 112.47 | -1.76 | JPM ahead |
| 2025-05-07 | 96.72 | 110.66 | -1.78 | JPM ahead |
| 2025-05-06 | 96.50 | 110.60 | -1.82 | JPM ahead |
| 2025-05-05 | 97.16 | 112.06 | -1.94 | JPM ahead |
| 2025-05-02 | 97.05 | 112.04 | -1.98 | JPM ahead |
| 2025-05-01 | 94.92 | 109.55 | -2.00 | JPM ahead |
| 2025-04-30 | 94.23 | 108.54 | -1.99 | JPM ahead |
| 2025-04-29 | 94.49 | 108.54 | -1.97 | JPM ahead |
| 2025-04-28 | 94.00 | 107.92 | -1.99 | JPM ahead |
| 2025-04-25 | 93.79 | 108.07 | -2.07 | JPM ahead |
| 2025-04-24 | 93.53 | 108.55 | -2.22 | JPM ahead |
| 2025-04-23 | 91.56 | 106.88 | -2.34 | JPM ahead |
| 2025-04-22 | 90.55 | 104.53 | -2.19 | JPM ahead |
| 2025-04-21 | 87.24 | 101.61 | -2.37 | JPM ahead |
| 2025-04-17 | 88.40 | 102.92 | -2.40 | JPM ahead |
| 2025-04-16 | 88.21 | 101.88 | -2.30 | JPM ahead |
| 2025-04-15 | 89.77 | 103.44 | -2.29 | JPM ahead |
| 2025-04-14 | 86.65 | 104.15 | -3.08 | JPM ahead |
| 2025-04-11 | 84.95 | 104.81 | -3.64 | JPM ahead |
| 2025-04-10 | 84.71 | 100.77 | -3.06 | JPM ahead |
| 2025-04-09 | 87.78 | 103.98 | -3.05 | JPM ahead |
| 2025-04-08 | 82.77 | 96.23 | -2.76 | JPM ahead |
| 2025-04-07 | 84.07 | 95.15 | -2.28 | JPM ahead |
| 2025-04-04 | 81.26 | 93.30 | -2.60 | JPM ahead |
| 2025-04-03 | 87.95 | 101.47 | -2.75 | JPM ahead |
| 2025-04-02 | 98.89 | 109.07 | -1.89 | JPM ahead |
| 2025-04-01 | 98.04 | 108.12 | -1.91 | JPM ahead |
| 2025-03-31 | 98.61 | 108.84 | -1.95 | JPM ahead |
| 2025-03-28 | 97.47 | 107.76 | -2.00 | JPM ahead |
| 2025-03-27 | 100.57 | 110.09 | -1.83 | JPM ahead |
| 2025-03-26 | 101.18 | 111.39 | -1.96 | JPM ahead |
| 2025-03-25 | 102.27 | 111.43 | -1.77 | JPM ahead |
| 2025-03-24 | 101.77 | 110.07 | -1.63 | JPM ahead |
| 2025-03-21 | 100.35 | 107.21 | -1.39 | JPM ahead |
| 2025-03-20 | 100.38 | 106.05 | -1.17 | JPM ahead |
| 2025-03-19 | 99.74 | 106.10 | -1.32 | JPM ahead |
| 2025-03-18 | 98.42 | 104.26 | -1.24 | JPM ahead |
| 2025-03-17 | 97.92 | 103.80 | -1.26 | JPM ahead |
| 2025-03-14 | 96.62 | 103.14 | -1.42 | JPM ahead |
| 2025-03-13 | 93.74 | 99.92 | -1.40 | JPM ahead |
| 2025-03-12 | 94.31 | 101.12 | -1.54 | JPM ahead |
| 2025-03-11 | 93.60 | 101.67 | -1.84 | JPM ahead |
| 2025-03-10 | 94.12 | 103.04 | -2.03 | JPM ahead |
| 2025-03-07 | 97.83 | 107.50 | -2.13 | JPM ahead |
| 2025-03-06 | 97.97 | 109.39 | -2.52 | JPM ahead |
| 2025-03-05 | 99.93 | 111.61 | -2.57 | JPM ahead |
| 2025-03-04 | 100.83 | 111.04 | -2.28 | JPM ahead |
| 2025-03-03 | 107.66 | 115.64 | -1.74 | JPM ahead |
| 2025-02-28 | 108.93 | 117.43 | -1.84 | JPM ahead |
| 2025-02-27 | 104.25 | 114.94 | -2.38 | JPM ahead |
| 2025-02-26 | 103.83 | 114.83 | -2.49 | JPM ahead |
| 2025-02-25 | 103.83 | 114.21 | -2.39 | JPM ahead |
| 2025-02-24 | 105.06 | 115.96 | -2.51 | JPM ahead |
| 2025-02-21 | 105.88 | 117.25 | -2.64 | JPM ahead |
| 2025-02-20 | 107.04 | 118.38 | -2.65 | JPM ahead |
| 2025-02-19 | 108.72 | 123.91 | -3.48 | JPM ahead |
| 2025-02-18 | 109.95 | 124.22 | -3.35 | JPM ahead |
| 2025-02-14 | 110.96 | 122.73 | -2.86 | JPM ahead |
| 2025-02-13 | 109.48 | 122.61 | -3.27 | JPM ahead |
| 2025-02-12 | 109.19 | 122.22 | -3.33 | JPM ahead |
| 2025-02-11 | 110.56 | 122.02 | -3.02 | JPM ahead |
| 2025-02-10 | 110.28 | 120.26 | -2.74 | JPM ahead |
| 2025-02-07 | 112.00 | 122.38 | -2.84 | JPM ahead |
| 2025-02-06 | 112.81 | 122.86 | -2.81 | JPM ahead |
| 2025-02-05 | 111.32 | 119.99 | -2.55 | JPM ahead |
| 2025-02-04 | 110.37 | 118.89 | -2.57 | JPM ahead |
| 2025-02-03 | 109.19 | 118.39 | -2.82 | JPM ahead |
| 2025-01-31 | 109.40 | 118.60 | -2.87 | JPM ahead |
| 2025-01-30 | 110.40 | 119.02 | -2.76 | JPM ahead |
| 2025-01-29 | 110.47 | 118.29 | -2.59 | JPM ahead |
| 2025-01-28 | 110.68 | 118.53 | -2.64 | JPM ahead |
| 2025-01-27 | 111.27 | 117.96 | -2.36 | JPM ahead |
| 2025-01-24 | 109.92 | 117.51 | -2.67 | JPM ahead |
| 2025-01-23 | 109.62 | 118.01 | -2.96 | JPM ahead |
| 2025-01-22 | 108.20 | 116.63 | -3.07 | JPM ahead |
| 2025-01-21 | 110.26 | 116.71 | -2.50 | JPM ahead |
| 2025-01-17 | 109.95 | 114.99 | -2.11 | JPM ahead |
| 2025-01-16 | 110.21 | 112.82 | -1.39 | JPM ahead |
| 2025-01-15 | 111.29 | 111.97 | -0.80 | JPM ahead |
| 2025-01-14 | 108.18 | 109.81 | -1.11 | JPM ahead |
| 2025-01-13 | 106.47 | 108.36 | -1.21 | JPM ahead |
| 2025-01-10 | 106.59 | 106.43 | -0.56 | JPM ahead |
| 2025-01-08 | 109.19 | 107.88 | -0.20 | near the usual relationship |
| 2025-01-07 | 108.88 | 107.90 | -0.31 | near the usual relationship |
| 2025-01-06 | 107.28 | 106.87 | -0.49 | near the usual relationship |
| 2025-01-03 | 105.88 | 107.95 | -1.29 | JPM ahead |
| 2025-01-02 | 104.66 | 106.49 | -1.24 | JPM ahead |
| 2024-12-31 | 103.85 | 106.36 | -1.47 | JPM ahead |
| 2024-12-30 | 103.76 | 106.19 | -1.46 | JPM ahead |
| 2024-12-27 | 104.77 | 107.01 | -1.40 | JPM ahead |
| 2024-12-26 | 105.27 | 107.88 | -1.53 | JPM ahead |
| 2024-12-24 | 104.87 | 107.52 | -1.56 | JPM ahead |
| 2024-12-23 | 103.71 | 105.78 | -1.39 | JPM ahead |
| 2024-12-20 | 104.37 | 105.43 | -1.07 | JPM ahead |
| 2024-12-19 | 102.50 | 103.37 | -1.02 | JPM ahead |
| 2024-12-18 | 102.79 | 102.22 | -0.54 | JPM ahead |
| 2024-12-17 | 106.45 | 105.76 | -0.52 | JPM ahead |
| 2024-12-16 | 107.44 | 106.31 | -0.38 | near the usual relationship |
| 2024-12-13 | 107.92 | 106.46 | -0.29 | near the usual relationship |
| 2024-12-12 | 108.88 | 107.17 | -0.21 | near the usual relationship |
| 2024-12-11 | 108.88 | 108.06 | -0.49 | near the usual relationship |
| 2024-12-10 | 108.10 | 107.76 | -0.65 | JPM ahead |
| 2024-12-09 | 108.48 | 108.18 | -0.66 | JPM ahead |
| 2024-12-06 | 110.47 | 109.76 | -0.55 | JPM ahead |
| 2024-12-05 | 111.06 | 108.92 | -0.11 | near the usual relationship |
| 2024-12-04 | 109.57 | 108.00 | -0.28 | near the usual relationship |
| 2024-12-03 | 110.63 | 108.63 | -0.16 | near the usual relationship |
| 2024-12-02 | 111.15 | 109.26 | -0.20 | near the usual relationship |
| 2024-11-29 | 112.26 | 110.80 | -0.34 | near the usual relationship |
| 2024-11-27 | 112.88 | 110.84 | -0.17 | near the usual relationship |
| 2024-11-26 | 112.83 | 110.92 | -0.21 | near the usual relationship |
| 2024-11-25 | 112.24 | 111.06 | -0.43 | near the usual relationship |
| 2024-11-22 | 111.06 | 110.29 | -0.55 | JPM ahead |
| 2024-11-21 | 109.78 | 108.60 | -0.43 | near the usual relationship |
| 2024-11-20 | 108.84 | 106.84 | -0.17 | near the usual relationship |
| 2024-11-19 | 109.66 | 107.86 | -0.24 | near the usual relationship |
| 2024-11-18 | 110.40 | 108.72 | -0.29 | near the usual relationship |
| 2024-11-15 | 110.47 | 108.85 | -0.31 | near the usual relationship |
| 2024-11-14 | 108.46 | 107.32 | -0.45 | near the usual relationship |
| 2024-11-13 | 108.39 | 107.01 | -0.38 | near the usual relationship |
| 2024-11-12 | 108.36 | 106.30 | -0.16 | near the usual relationship |
| 2024-11-11 | 108.88 | 106.18 | +0.04 | near the usual relationship |
| 2024-11-08 | 106.64 | 105.15 | -0.33 | near the usual relationship |
| 2024-11-07 | 105.79 | 104.89 | -0.52 | JPM ahead |
| 2024-11-06 | 107.30 | 109.62 | -1.53 | JPM ahead |
| 2024-11-05 | 98.96 | 98.28 | -0.59 | JPM ahead |
| 2024-11-04 | 97.66 | 97.52 | -0.78 | JPM ahead |
| 2024-11-01 | 98.68 | 98.92 | -0.91 | JPM ahead |
| 2024-10-31 | 98.82 | 98.47 | -0.71 | JPM ahead |
| 2024-10-30 | 99.98 | 99.57 | -0.70 | JPM ahead |
| 2024-10-29 | 100.50 | 98.90 | -0.29 | near the usual relationship |
| 2024-10-28 | 100.71 | 100.06 | -0.60 | JPM ahead |
| 2024-10-25 | 98.98 | 98.64 | -0.70 | JPM ahead |
| 2024-10-24 | 100.78 | 99.83 | -0.49 | near the usual relationship |
| 2024-10-23 | 100.05 | 99.13 | -0.49 | near the usual relationship |
| 2024-10-22 | 99.95 | 99.45 | -0.61 | JPM ahead |
| 2024-10-21 | 98.68 | 98.95 | -0.87 | JPM ahead |
| 2024-10-18 | 100.00 | 100.00 | -0.78 | 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 Oct 20, 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
- $352.4B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
JPM JP Morgan Chase & Co.
- Listing
- NYSE · SEC CIK 19617
- Industry
- Major Banks · SIC 6021 National Commercial Banks
- Market value
- $886.6B
- Price history
- 2,520 daily closes, Oct 12, 2016 to Oct 22, 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.
