AMGEN Correlations

031162CR9

73.61 4.07 5.24%

The current 90-days correlation between AMGEN INC and AEP TEX INC is 0.06 (i.e., Significant 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.

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 together with AMGEN Bond

0.81	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.61	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.77	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against AMGEN Bond

0.79	GOOG	Alphabet Class C Buyout Trend	Pair Corr
0.75	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.75	AVTE	Aerovate Therapeutics	Pair Corr
0.75	ELFNX	Elfun Trusts Elfun	Pair Corr
0.72	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.7	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.7	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.64	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.61	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.6	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.39	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.39	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.33	KOSS	Koss	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	APLD	BBAI	INMD	FUND	IONQ	GOOG	PYPL	RXRX
00108WAF7		0.0	-0.01	0.04	-0.02	-0.04	-0.01	0.01	-0.07	0.0	00108WAF7
90331HPL1	0.0		-0.39	-0.57	-0.3	-0.45	-0.41	-0.12	-0.28	-0.48	90331HPL1
APLD	-0.01	-0.39		0.69	0.45	0.75	0.74	0.42	0.76	0.09	APLD
BBAI	0.04	-0.57	0.69		0.55	0.74	0.82	0.5	0.7	0.45	BBAI
INMD	-0.02	-0.3	0.45	0.55		0.77	0.77	0.61	0.62	0.42	INMD
FUND	-0.04	-0.45	0.75	0.74	0.77		0.87	0.79	0.89	0.4	FUND
IONQ	-0.01	-0.41	0.74	0.82	0.77	0.87		0.7	0.86	0.25	IONQ
GOOG	0.01	-0.12	0.42	0.5	0.61	0.79	0.7		0.79	0.4	GOOG
PYPL	-0.07	-0.28	0.76	0.7	0.62	0.89	0.86	0.79		0.3	PYPL
RXRX	0.0	-0.48	0.09	0.45	0.42	0.4	0.25	0.4	0.3		RXRX
	00108WAF7	90331HPL1	APLD	BBAI	INMD	FUND	IONQ	GOOG	PYPL	RXRX

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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

PYPL	+ 0.89	FUND
IONQ	+ 0.87	FUND
PYPL	+ 0.86	IONQ
IONQ	+ 0.82	BBAI
GOOG	+ 0.79	FUND
PYPL	+ 0.79	GOOG

High negative correlations

BBAI	- 0.57	90331HPL1
RXRX	- 0.48	90331HPL1
FUND	- 0.45	90331HPL1
IONQ	- 0.41	90331HPL1
APLD	- 0.39	90331HPL1
INMD	- 0.3	90331HPL1

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
00108WAF7	1.33	0.18	0.00	(0.24)	1.84	(1.41)	3.24	(2.55)	10.75
90331HPL1	0.37	0.02	0.00	0.06	0.00	0.00	1.39	(1.70)	7.07
APLD	5.24	0.40	0.10	0.29	5.09	(5.88)	10.56	(8.40)	28.97
BBAI	5.11	1.41	0.23	9.84	4.53	(6.51)	17.05	(7.85)	36.41
INMD	2.12	0.06	0.06	0.14	2.73	(2.18)	4.56	(5.21)	17.38
FUND	0.57	0.05	0.03	0.19	0.44	(0.66)	1.30	(1.02)	4.46
IONQ	6.03	2.47	0.43	1.11	4.81	(7.26)	16.30	(9.99)	47.83
GOOG	1.10	0.28	0.13	0.71	1.23	(1.14)	2.22	(1.95)	8.60
PYPL	1.35	0.25	0.17	0.32	1.25	(1.52)	3.52	(2.59)	10.05
RXRX	3.70	0.24	0.06	0.27	4.57	(3.81)	8.32	(6.56)	20.99

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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