Amgen Correlations

Stocks . Germany . 
Stock . Amgen Inc
AMG Stock  EUR 290.45  1.95  0.68%   
The current 90-days correlation between Amgen Inc and China Foods Limited is 0.04 (i.e., Significant 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.

Amgen Correlation With Market

Significant diversification

The correlation between Amgen Inc and DJI is 0.06 (i.e., Significant 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

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  0.95NCYD TELE2 -B-PairCorr
  0.772ZP Avio SpAPairCorr
  0.815VD VODACOM GROUPPairCorr
  0.61HKU H2O RetailingPairCorr

Moving against Amgen Stock

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  0.776MK MerckPairCorr
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  0.6SWTF Intouch Holdings PublicPairCorr
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  0.55D7GA NEL ASA ADR30PairCorr
  0.511JU FATFISH GROUP LTDPairCorr
  0.4YPHA ASTELLAS PHARMA UNSPADRPairCorr
  0.39YPH Astellas PharmaPairCorr
  0.43CKU CLEAN AIR METALSPairCorr

Related Correlations Analysis

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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   
7FZ
+ 0.68
AZU
7FZ
+ 0.68
CFH
CK3
+ 0.48
4GF
FV8
+ 0.48
AZU
FV8
+ 0.3
NY7
AZU
+ 0.29
4GF
  
High negative correlations   
CFH
- 0.49
CK3
CFH
- 0.35
NY7
AZU
- 0.31
CK3
CK3
- 0.28
NY7
7FZ
- 0.27
CK3
CFH
- 0.21
4GF

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.

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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Amgen Corporate Management

Elected by the shareholders, the Amgen's board of directors comprises two types of representatives: Amgen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Amgen. The board's role is to monitor Amgen's management team and ensure that shareholders' interests are well served. Amgen's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Amgen's outside directors are responsible for providing unbiased perspectives on the board's policies.
Linda LouieVP OfficerProfile
Robert BradwayCEO ChairmanProfile
Peter GriffithEx CFOProfile
Murdo GordonEx OperationsProfile
Dagmar BottenbruchIndependent Member of the Supervisory BoardProfile
Donatella CeccarelliIndependent Member of the Supervisory BoardProfile
Nancy GrygielSr OfficerProfile
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