Amgen Correlations

AMG Stock

EUR 253.25 4.00 1.60%

The current 90-days correlation between Amgen Inc and Astral Foods Limited is 0.14 (i.e., Average diversification). The correlation of Amgen is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Amgen Correlation With Market

Average diversification

The correlation between Amgen Inc and DJI is 0.16 (i.e., Average 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.

The ability to find closely correlated positions to Amgen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Amgen when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Amgen - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Amgen Inc to buy it.

Moving together with Amgen Stock

0.71	PQ9	BANK MANDIRI	Pair Corr
0.79	PQ9	PT Bank Mandiri	Pair Corr
0.82	PQ9	BANK MANDIRI	Pair Corr
0.78	PQ9	BANK MANDIRI	Pair Corr
0.74	BYRA	PT Bank Rakyat	Pair Corr
0.73	BYRA	BANK RAKYAT IND	Pair Corr
0.78	BYRA	BANK RAKYAT IND	Pair Corr
0.65	BYRA	PT Bank Rakyat	Pair Corr
0.62	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against Amgen Stock

0.87	APC	Apple Inc	Pair Corr
0.87	APC	Apple Inc	Pair Corr
0.87	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.81	AMZ	Amazon Inc	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.78	MSF	Microsoft	Pair Corr
0.57	DBPE	Xtrackers LevDAX	Pair Corr
0.53	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	GLJ	A9U	ALG	DHR	Z1L	9MF	FOJ1	CM2
GLJ		-0.41	-0.51	0.67	0.11	-0.57	-0.31	-0.72	GLJ
A9U	-0.41		-0.19	-0.09	0.0	0.57	0.22	0.5	A9U
ALG	-0.51	-0.19		-0.31	0.1	0.13	0.37	0.33	ALG
DHR	0.67	-0.09	-0.31		-0.12	-0.55	-0.1	-0.47	DHR
Z1L	0.11	0.0	0.1	-0.12		0.35	0.32	0.16	Z1L
9MF	-0.57	0.57	0.13	-0.55	0.35		0.44	0.61	9MF
FOJ1	-0.31	0.22	0.37	-0.1	0.32	0.44		0.49	FOJ1
CM2	-0.72	0.5	0.33	-0.47	0.16	0.61	0.49		CM2
	GLJ	A9U	ALG	DHR	Z1L	9MF	FOJ1	CM2

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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

DHR	+ 0.67	GLJ
CM2	+ 0.61	9MF
9MF	+ 0.57	A9U
CM2	+ 0.5	A9U
CM2	+ 0.49	FOJ1
FOJ1	+ 0.44	9MF

High negative correlations

CM2	- 0.72	GLJ
9MF	- 0.57	GLJ
9MF	- 0.55	DHR
ALG	- 0.51	GLJ
CM2	- 0.47	DHR
A9U	- 0.41	GLJ

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
GLJ	1.80	(0.61)	0.00	5.57	0.00	0.00	2.64	(3.56)	28.32
A9U	1.03	(0.07)	0.00	(0.69)	0.00	0.00	2.84	(1.72)	10.80
ALG	0.22	0.00	0.00	(0.03)	0.00	0.00	0.72	(0.71)	3.63
DHR	2.17	(0.16)	0.00	2.78	0.00	0.00	4.75	(4.81)	16.74
Z1L	1.37	0.08	0.03	(0.14)	1.80	(1.49)	2.72	(2.77)	9.34
9MF	1.20	0.06	0.03	0.24	1.44	(1.27)	2.55	(2.21)	8.68
FOJ1	0.92	0.02	0.01	0.13	1.24	(1.25)	1.77	(1.75)	8.87
CM2	1.79	0.72	0.42	8.03	1.17	(2.31)	5.80	(1.80)	17.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Amgen without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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