Amgen Correlations

AMGN Stock

USD 325.28 3.37 1.05%

The current 90-days correlation between Amgen Inc and Merck Company is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Amgen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Amgen Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Amgen Correlation With Market

Very weak diversification

The correlation between Amgen Inc and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amgen Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amgen Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Amgen Stock

0.7

DTIL

Precision BioSciences

Pair Corr

Moving against Amgen Stock

0.47	DRUG	Bright Minds Biosciences	Pair Corr
0.48	SABSW	SAB Biotherapeutics	Pair Corr
0.35	VSTM	Verastem	Pair Corr

Related Correlations Analysis

	MRK	ABBV	GILD	JNJ	BMY	PFE	LLY	BIIB
MRK		-0.27	-0.7	0.49	-0.8	0.54	0.66	0.89	MRK
ABBV	-0.27		0.26	-0.13	0.36	-0.4	-0.33	-0.29	ABBV
GILD	-0.7	0.26		0.05	0.86	-0.15	-0.46	-0.88	GILD
JNJ	0.49	-0.13	0.05		-0.18	0.53	0.49	0.31	JNJ
BMY	-0.8	0.36	0.86	-0.18		-0.32	-0.46	-0.9	BMY
PFE	0.54	-0.4	-0.15	0.53	-0.32		0.52	0.36	PFE
LLY	0.66	-0.33	-0.46	0.49	-0.46	0.52		0.65	LLY
BIIB	0.89	-0.29	-0.88	0.31	-0.9	0.36	0.65		BIIB
	MRK	ABBV	GILD	JNJ	BMY	PFE	LLY	BIIB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BIIB	+ 0.89	MRK
BMY	+ 0.86	GILD
LLY	+ 0.66	MRK
BIIB	+ 0.65	LLY
PFE	+ 0.54	MRK
PFE	+ 0.53	JNJ

High negative correlations

BIIB	- 0.9	BMY
BIIB	- 0.88	GILD
BMY	- 0.8	MRK
GILD	- 0.7	MRK
LLY	- 0.46	BMY
LLY	- 0.46	GILD

Risk-Adjusted Indicators

There is a big difference between Amgen Stock performing well and Amgen Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Amgen's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MRK	0.78	(0.18)	0.00	(1.08)	0.00	0.00	1.61	(2.07)	4.89
ABBV	0.75	0.07	(0.08)	0.46	0.72	(0.94)	1.53	(1.23)	7.87
GILD	0.83	0.38	0.25	1.25	0.32	(0.96)	2.17	(1.05)	4.75
JNJ	0.56	(0.05)	0.00	(0.09)	0.00	0.00	1.09	(1.39)	3.25
BMY	1.15	0.26	0.07	31.84	1.07	(1.29)	2.08	(1.95)	8.51
PFE	0.86	(0.12)	0.00	(0.31)	0.00	0.00	2.17	(1.93)	6.28
LLY	1.32	(0.04)	(0.06)	0.11	1.76	(1.44)	2.71	(3.47)	15.76
BIIB	1.01	(0.33)	0.00	(0.31)	0.00	0.00	2.02	(2.10)	6.36

Amgen Corporate Management

Linda Louie	VP Officer	Profile
James MD	Executive Officer	Profile
Nancy Grygiel	Senior Officer	Profile
Justin Claeys	Vice Relations	Profile

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