AMGEN Correlations

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65.36 2.43 3.58%

The current 90-days correlation between AMGEN INC and Aris Water Solutions is 0.1 (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

Modest diversification

The correlation between AMGEN INC and DJI is 0.22 (i.e., Modest 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 together with AMGEN Bond

0.82	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.8	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.9	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against AMGEN Bond

0.84	AVTE	Aerovate Therapeutics	Pair Corr
0.83	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.83	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.72	GOOG	Alphabet Class C Buyout Trend	Pair Corr
0.71	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.69	ELFNX	Elfun Trusts Elfun	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.67	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.62	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.4	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ARIS	COCO	GEV	BUD	KEN	CCU	CQP	KDP
ARIS		0.92	0.84	-0.93	0.8	0.16	0.88	-0.8	ARIS
COCO	0.92		0.94	-0.94	0.88	0.3	0.8	-0.9	COCO
GEV	0.84	0.94		-0.86	0.89	0.43	0.75	-0.9	GEV
BUD	-0.93	-0.94	-0.86		-0.83	-0.12	-0.88	0.89	BUD
KEN	0.8	0.88	0.89	-0.83		0.55	0.81	-0.82	KEN
CCU	0.16	0.3	0.43	-0.12	0.55		0.31	-0.18	CCU
CQP	0.88	0.8	0.75	-0.88	0.81	0.31		-0.73	CQP
KDP	-0.8	-0.9	-0.9	0.89	-0.82	-0.18	-0.73		KDP
	ARIS	COCO	GEV	BUD	KEN	CCU	CQP	KDP

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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

GEV	+ 0.94	COCO
COCO	+ 0.92	ARIS
KEN	+ 0.89	GEV
KDP	+ 0.89	BUD
CQP	+ 0.88	ARIS
KEN	+ 0.88	COCO

High negative correlations

BUD	- 0.94	COCO
BUD	- 0.93	ARIS
KDP	- 0.9	GEV
KDP	- 0.9	COCO
CQP	- 0.88	BUD
BUD	- 0.86	GEV

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
ARIS	2.59	0.67	0.26	0.47	2.22	(2.96)	6.46	(4.37)	30.54
COCO	1.45	0.49	0.23	1.88	1.25	(1.66)	3.72	(2.66)	11.39
GEV	1.92	0.59	0.28	0.52	1.84	(2.33)	4.79	(2.34)	14.24
BUD	0.84	(0.31)	0.00	(1.11)	0.00	0.00	0.99	(2.02)	9.38
KEN	1.33	0.29	0.13	0.68	1.42	(1.43)	3.01	(2.55)	8.45
CCU	1.38	0.16	0.04	0.76	1.44	(1.49)	2.84	(2.25)	8.67
CQP	1.06	0.00	0.13	0.00	0.91	(1.18)	2.30	(1.85)	6.71
KDP	0.79	(0.15)	0.00	(0.77)	0.00	0.00	1.48	(2.08)	6.67

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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