Amgen Inc Stock Market Value
| AMGN Stock | USD 294.53 4.63 1.60% |
| Symbol | Amgen |
Amgen Inc Price To Book Ratio
Is Biotechnology space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Amgen. If investors know Amgen will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Amgen listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.621 | Dividend Share 8.88 | Earnings Share 7.83 | Revenue Per Share 60.641 | Quarterly Revenue Growth 0.232 |
The market value of Amgen Inc is measured differently than its book value, which is the value of Amgen that is recorded on the company's balance sheet. Investors also form their own opinion of Amgen's value that differs from its market value or its book value, called intrinsic value, which is Amgen's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Amgen's market value can be influenced by many factors that don't directly affect Amgen's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Amgen's value and its price as these two are different measures arrived at by different means. Investors typically determine if Amgen is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Amgen's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Amgen 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Amgen's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Amgen.
| 06/04/2023 |
| 11/25/2024 |
If you would invest 0.00 in Amgen on June 4, 2023 and sell it all today you would earn a total of 0.00 from holding Amgen Inc or generate 0.0% return on investment in Amgen over 540 days. Amgen is related to or competes with Eliem Therapeutics, HCW Biologics, Scpharmaceuticals, Milestone Pharmaceuticals, Seres Therapeutics, and Lumos Pharma. Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide More
Amgen Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Amgen's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Amgen Inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 9.43 | |||
| Value At Risk | (1.90) | |||
| Potential Upside | 1.67 |
Amgen Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Amgen's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Amgen's standard deviation. In reality, there are many statistical measures that can use Amgen historical prices to predict the future Amgen's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.13) |
Amgen Inc Backtested Returns
Amgen Inc secures Sharpe Ratio (or Efficiency) of -0.0869, which signifies that the company had a -0.0869% return per unit of standard deviation over the last 3 months. Amgen Inc exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Amgen's mean deviation of 1.03, and Risk Adjusted Performance of (0.05) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.99, which signifies possible diversification benefits within a given portfolio. Amgen returns are very sensitive to returns on the market. As the market goes up or down, Amgen is expected to follow. At this point, Amgen Inc has a negative expected return of -0.14%. Please make sure to confirm Amgen's potential upside, and the relationship between the total risk alpha and daily balance of power , to decide if Amgen Inc performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.75 |
Good predictability
Amgen Inc has good predictability. Overlapping area represents the amount of predictability between Amgen time series from 4th of June 2023 to 29th of February 2024 and 29th of February 2024 to 25th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Amgen Inc price movement. The serial correlation of 0.75 indicates that around 75.0% of current Amgen price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 525.47 |
Amgen Inc lagged returns against current returns
Autocorrelation, which is Amgen stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Amgen's stock expected returns. We can calculate the autocorrelation of Amgen returns to help us make a trade decision. For example, suppose you find that Amgen has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Amgen regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Amgen stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Amgen stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Amgen stock over time.
Current vs Lagged Prices |
| Timeline |
Amgen Lagged Returns
When evaluating Amgen's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Amgen stock have on its future price. Amgen autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Amgen autocorrelation shows the relationship between Amgen stock current value and its past values and can show if there is a momentum factor associated with investing in Amgen Inc.
Regressed Prices |
| Timeline |
Pair Trading with Amgen
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Amgen position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Amgen will appreciate offsetting losses from the drop in the long position's value.Moving together with Amgen Stock
| 0.61 | A | Agilent Technologies Earnings Call Today | PairCorr |
| 0.79 | ME | 23Andme Holding | PairCorr |
| 0.7 | VALN | Valneva SE ADR | PairCorr |
| 0.8 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
Moving against Amgen Stock
| 0.46 | MDGL | Madrigal Pharmaceuticals | PairCorr |
| 0.41 | KZR | Kezar Life Sciences | PairCorr |
| 0.39 | RNXT | RenovoRx | PairCorr |
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.
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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Amgen can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Amgen Correlation, Amgen Volatility and Amgen Alpha and Beta module to complement your research on Amgen. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Amgen technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.