Amgen Correlations

AMGN Stock

USD 265.86 6.19 2.28%

The current 90-days correlation between Amgen Inc and Merck Company is 0.76 (i.e., Poor 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 0.5 (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.

Build AI portfolio with Amgen Stock

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

0.78	JNJ	Johnson Johnson	Pair Corr
0.93	MRK	Merck Company	Pair Corr
0.81	PFE	Pfizer Inc	Pair Corr
0.69	GSD	Devonian Health Group	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr

Moving against Amgen Stock

0.69	WHLRD	Wheeler Real Estate	Pair Corr
0.55	AVCR	Avricore Health	Pair Corr
0.54	PCRX	Pacira BioSciences,	Pair Corr
0.53	ANIP	ANI Pharmaceuticals	Pair Corr
0.52	RGC	Regencell Bioscience Trending	Pair Corr
0.47	CWT	California Water Service	Pair Corr
0.64	PMHG	Prime Meridian Holding	Pair Corr
0.41	WMT	Walmart	Pair Corr

Related Correlations Analysis

	MRK	ABBV	GILD	JNJ	BMY	PFE	LLY	BIIB
MRK		0.93	0.64	0.81	0.89	0.88	0.56	0.89	MRK
ABBV	0.93		0.66	0.81	0.8	0.85	0.52	0.82	ABBV
GILD	0.64	0.66		0.77	0.64	0.44	0.32	0.48	GILD
JNJ	0.81	0.81	0.77		0.68	0.7	0.54	0.72	JNJ
BMY	0.89	0.8	0.64	0.68		0.82	0.37	0.89	BMY
PFE	0.88	0.85	0.44	0.7	0.82		0.69	0.96	PFE
LLY	0.56	0.52	0.32	0.54	0.37	0.69		0.62	LLY
BIIB	0.89	0.82	0.48	0.72	0.89	0.96	0.62		BIIB
	MRK	ABBV	GILD	JNJ	BMY	PFE	LLY	BIIB

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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	1.45	(0.17)	0.00	(0.48)	0.00	0.00	2.43	(4.59)	9.07
ABBV	1.39	0.04	0.00	(0.05)	0.00	0.00	2.37	(3.74)	9.34
GILD	1.48	0.03	0.00	(0.06)	0.00	0.00	2.56	(3.09)	12.25
JNJ	1.02	0.03	0.07	0.06	1.82	(0.93)	1.87	(1.81)	9.46
BMY	1.58	(0.30)	0.00	(0.89)	0.00	0.00	1.99	(3.84)	9.78
PFE	1.32	(0.15)	0.00	(0.38)	0.00	0.00	2.22	(3.51)	7.32
LLY	2.18	(0.07)	0.00	(0.22)	0.00	0.00	3.65	(4.73)	25.96
BIIB	1.65	(0.21)	0.00	(0.41)	0.00	0.00	2.94	(4.31)	11.55

Amgen Corporate Management

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

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