AMGEN Correlations

031162CF5

81.22 7.70 8.66%

The current 90-days correlation between AMGEN INC 4663 and CVW CleanTech is -0.07 (i.e., Good 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

Good diversification

The correlation between AMGEN INC 4663 and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AMGEN INC 4663 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 4663 to buy it.

Moving together with AMGEN Bond

0.66	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.72	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against AMGEN Bond

0.78	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.7	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.64	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.62	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.61	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.6	HPQ	HP Inc	Pair Corr
0.58	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.57	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.56	HD	Home Depot	Pair Corr
0.55	WMT	Walmart Aggressive Push	Pair Corr
0.54	T	ATT Inc Aggressive Push	Pair Corr
0.48	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	CVWFF	CCEC	ALVO	CPIX	LOMLF	WAVS	AQST
CVWFF		0.07	-0.22	0.11	0.24	-0.35	-0.16	CVWFF
CCEC	0.07		0.69	-0.33	0.52	0.66	0.39	CCEC
ALVO	-0.22	0.69		-0.36	0.44	0.79	0.5	ALVO
CPIX	0.11	-0.33	-0.36		0.1	-0.41	-0.14	CPIX
LOMLF	0.24	0.52	0.44	0.1		0.4	0.52	LOMLF
WAVS	-0.35	0.66	0.79	-0.41	0.4		0.57	WAVS
AQST	-0.16	0.39	0.5	-0.14	0.52	0.57		AQST
	CVWFF	CCEC	ALVO	CPIX	LOMLF	WAVS	AQST

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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

WAVS	+ 0.79	ALVO
ALVO	+ 0.69	CCEC
WAVS	+ 0.66	CCEC
AQST	+ 0.57	WAVS
LOMLF	+ 0.52	CCEC
AQST	+ 0.52	LOMLF

High negative correlations

WAVS	- 0.41	CPIX
CPIX	- 0.36	ALVO
WAVS	- 0.35	CVWFF
CPIX	- 0.33	CCEC
ALVO	- 0.22	CVWFF
AQST	- 0.16	CVWFF

Risk-Adjusted Indicators

There is a big difference between AMGEN Bond performing well and AMGEN Corporate Bond 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
CVWFF	1.00	(0.15)	0.00	(0.28)	0.00	0.00	1.64	(4.48)	28.54
CCEC	1.54	0.06	(0.01)	0.35	2.06	(1.50)	4.08	(2.79)	13.94
ALVO	1.20	0.01	(0.06)	0.03	1.55	(1.32)	3.15	(2.83)	8.63
CPIX	2.32	(0.10)	0.00	(0.12)	0.00	0.00	4.65	(5.00)	30.57
LOMLF	2.02	(0.20)	0.00	(1.67)	0.00	0.00	4.76	(4.76)	9.76
WAVS	1.06	0.07	0.00	0.45	1.50	(2.16)	3.35	(3.25)	12.07
AQST	3.48	(0.16)	(0.02)	0.02	4.23	(3.63)	6.51	(7.51)	20.28

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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