Amgen Correlations

AMGN Stock

USD 315.75 2.90 0.91%

The current 90-days correlation between Amgen Inc and Merck Company is 0.34 (i.e., Weak 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

Weak diversification

The correlation between Amgen Inc and DJI is 0.31 (i.e., 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

0.87	VALN	Valneva SE ADR	Pair Corr
0.68	VIGL	Vigil Neuroscience	Pair Corr
0.83	DVAX	Dynavax Technologies	Pair Corr
0.89	VRNA	Verona Pharma PLC	Pair Corr
0.88	VRTX	Vertex Pharmaceuticals	Pair Corr
0.61	VSTM	Verastem	Pair Corr
0.61	VTVT	vTv Therapeutics	Pair Corr

Moving against Amgen Stock

0.92	ME	23Andme Holding	Pair Corr
0.9	VINC	Vincerx Pharma	Pair Corr
0.83	VERA	Vera Therapeutics	Pair Corr
0.8	VKTX	Viking Therapeutics	Pair Corr
0.79	VANI	Vivani Medical Earnings Call This Week	Pair Corr
0.74	CDIOW	Cardio Diagnostics	Pair Corr
0.72	VCYT	Veracyte	Pair Corr
0.7	VCEL	Vericel Corp Ord	Pair Corr
0.65	DNLI	Denali Therapeutics	Pair Corr
0.64	SABSW	SAB Biotherapeutics	Pair Corr
0.55	DRTS	Alpha Tau Medical	Pair Corr
0.54	DSGN	Design Therapeutics	Pair Corr
0.51	DRRX	Durect Earnings Call This Week	Pair Corr
0.5	A	Agilent Technologies	Pair Corr
0.34	DRMA	Dermata Therapeutics	Pair Corr
0.9	VRPX	Virpax Pharmaceuticals	Pair Corr
0.89	VTYX	Ventyx Biosciences	Pair Corr
0.87	VTRS	Viatris	Pair Corr
0.85	VYGR	Voyager Therapeutics	Pair Corr
0.8	VRDN	Viridian Therapeutics	Pair Corr
0.78	ELAN	Elanco Animal Health	Pair Corr
0.75	DYAI	Dyadic International Earnings Call This Week	Pair Corr
0.72	VRAX	Virax Biolabs Group	Pair Corr
0.68	VYNE	Vyne Therapeutics	Pair Corr
0.65	ELEV	Elevation Oncology	Pair Corr
0.6	VXRT	Vaxart Inc	Pair Corr
0.43	ELDN	Eledon Pharmaceuticals Earnings Call This Week	Pair Corr
0.4	VRCA	Verrica Pharmaceuticals	Pair Corr

Related Correlations Analysis

	MRK	ABBV	GILD	JNJ	BMY	PFE	LLY	BIIB
MRK		-0.58	-0.55	-0.59	0.05	0.1	-0.72	0.74	MRK
ABBV	-0.58		0.96	0.96	0.55	0.18	0.77	-0.47	ABBV
GILD	-0.55	0.96		0.97	0.57	0.18	0.78	-0.49	GILD
JNJ	-0.59	0.96	0.97		0.59	0.21	0.81	-0.5	JNJ
BMY	0.05	0.55	0.57	0.59		0.47	0.29	-0.01	BMY
PFE	0.1	0.18	0.18	0.21	0.47		0.16	0.02	PFE
LLY	-0.72	0.77	0.78	0.81	0.29	0.16		-0.45	LLY
BIIB	0.74	-0.47	-0.49	-0.5	-0.01	0.02	-0.45		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

JNJ	+ 0.97	GILD
GILD	+ 0.96	ABBV
JNJ	+ 0.96	ABBV
LLY	+ 0.81	JNJ
LLY	+ 0.78	GILD
LLY	+ 0.77	ABBV

High negative correlations

LLY	- 0.72	MRK
JNJ	- 0.59	MRK
ABBV	- 0.58	MRK
GILD	- 0.55	MRK
BIIB	- 0.5	JNJ
BIIB	- 0.49	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	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
ABBV	1.05	0.32	0.41	2.68	0.69	(1.26)	2.37	(1.47)	6.46
GILD	1.06	0.32	0.30	0.99	0.93	(1.17)	2.28	(2.04)	9.83
JNJ	0.89	0.16	0.22	1.67	0.95	(0.93)	1.79	(1.81)	5.95
BMY	1.23	0.07	0.08	1.96	1.84	(1.09)	3.18	(2.80)	7.43
PFE	1.05	0.08	0.13	0.42	1.17	(1.09)	2.20	(2.04)	7.11
LLY	1.49	0.11	0.07	0.10	2.11	(1.56)	2.45	(4.21)	10.31
BIIB	1.32	(0.10)	0.00	(0.45)	0.00	0.00	2.50	(3.41)	8.44

Amgen Corporate Management

Jonathan JD	General VP	Profile
Linda Louie	VP Officer	Profile
James MD	Executive Officer	Profile
Nancy Grygiel	Senior Officer	Profile

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