AMCR vs AMGN: Correlation
Measured on weekly returns over the past three years, Amcor (AMCR) and Amgen (AMGN) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCR and AMGN?
Across a 3-year window, the weekly returns of AMCR and AMGN correlate at 0.48, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.48). Stretching to 5 years gives 0.46, with an annualized covariance of 308.1 %².
Among the 36 assets we track against AMCR, AMGN ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMGN ahead by 43.4 points (+12.6% versus +56.0%). The rolling one-year correlation moved between 0.14 and 0.55 over the past three years, a moderate range.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMCR vs AMGN: side by side
| AMCR (Amcor) | AMGN (Amgen) | |
|---|---|---|
| 1-year return | +12.6% | +56.0% |
| 5-year return | -9.8% | +127.8% |
| Volatility (ann.) | 24.5% | 26.3% |
| Beta vs S&P 500 | 0.46 | 0.34 |
| Max drawdown (3Y) | -32.0% | -22.7% |
| Market cap | $21.5B | $236.3B |
| P/E (trailing) | 19.8 | 27.3 |
| Dividend yield | 5.51% | 2.23% |
| Sector / category | Materials | Health Care |
Year-by-year returns
| Year | AMCR | AMGN |
|---|---|---|
| 2022 | +3.2% | +20.4% |
| 2023 | -15.0% | +13.5% |
| 2024 | +2.6% | -6.8% |
| 2025 | -9.0% | +29.7% |
| 2026 | +14.9% | +36.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCR and AMGN good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AMCR and AMGN?
The AMCR/AMGN correlation stands at 0.48 on a 3-year window (1 year: 0.61, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is AMGN a good diversifier for AMCR?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amcr-vs-amgn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amcr-vs-amgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMCR correlations · AMGN correlations
