Amgen Correlations

AMG Stock

EUR 266.35 1.15 0.43%

The current 90-days correlation between Amgen Inc and GOODYEAR T RUBBER is 0.11 (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.

Amgen Correlation With Market

Weak diversification

The correlation between Amgen Inc and DJI is 0.39 (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.

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 against Amgen Stock

0.73	FHL	Federal Home Loan	Pair Corr
0.57	APC	Apple Inc	Pair Corr
0.56	APC	Apple Inc	Pair Corr
0.55	APC	Apple Inc	Pair Corr
0.55	APC	Apple Inc	Pair Corr
0.51	AMZ	Amazon Inc	Pair Corr
0.4	MSF	Microsoft	Pair Corr
0.39	MSF	Microsoft	Pair Corr
0.39	KBIA	KB Financial Group	Pair Corr
0.38	MSF	Microsoft	Pair Corr
0.37	MSF	Microsoft	Pair Corr
0.36	MSF	Microsoft	Pair Corr
0.33	SID	State Bank	Pair Corr

Related Correlations Analysis

	DNN	RNT	12P	NWL	GTR	6BC0	7SU	E5M
DNN		-0.13	-0.16	-0.24	-0.33	0.0	-0.3	-0.23	DNN
RNT	-0.13		0.61	0.57	0.45	0.0	0.58	0.58	RNT
12P	-0.16	0.61		0.77	0.72	0.0	0.81	0.81	12P
NWL	-0.24	0.57	0.77		0.83	0.0	0.95	0.75	NWL
GTR	-0.33	0.45	0.72	0.83		0.0	0.87	0.79	GTR
6BC0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	6BC0
7SU	-0.3	0.58	0.81	0.95	0.87	0.0		0.82	7SU
E5M	-0.23	0.58	0.81	0.75	0.79	0.0	0.82		E5M
	DNN	RNT	12P	NWL	GTR	6BC0	7SU	E5M

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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

7SU	+ 0.95	NWL
7SU	+ 0.87	GTR
GTR	+ 0.83	NWL
E5M	+ 0.82	7SU
7SU	+ 0.81	12P
E5M	+ 0.81	12P

High negative correlations

GTR	- 0.33	DNN
7SU	- 0.3	DNN
NWL	- 0.24	DNN
E5M	- 0.23	DNN
12P	- 0.16	DNN
RNT	- 0.13	DNN

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
DNN	1.80	0.04	(0.01)	0.23	2.72	(9.98)	7.14	(7.14)	35.58
RNT	1.80	0.07	(0.01)	0.61	2.38	(2.93)	5.69	(6.45)	16.70
12P	1.09	0.02	(0.03)	0.18	1.27	(1.25)	2.80	(2.39)	10.56
NWL	2.39	0.53	0.19	1.78	2.00	(3.03)	5.76	(3.22)	28.10
GTR	2.28	0.36	0.11	0.97	2.22	(2.40)	6.38	(3.77)	12.74
6BC0	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
7SU	1.80	0.48	0.19	5.77	1.39	(2.35)	6.49	(2.37)	11.33
E5M	1.41	0.29	0.13	0.59	1.34	(1.88)	3.67	(2.63)	12.41

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 Executives

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.

Jackson Dunckel

Member of the Management Board, Chief Financial Officer

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