AMD vs BMY: Correlation
Measured on weekly returns over the past three years, Advanced Micro Devices (AMD) and Bristol Myers Squibb (BMY) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMD and BMY?
Over the past 3 years, AMD and BMY moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.43) runs below the 3-year figure (-0.18). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -277.6 %².
Among the 33 assets we track against AMD, BMY ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMD ahead by 137.9 points (+185.2% versus +47.3%). The rolling one-year correlation moved between -0.38 and 0.04 over the past three years, a moderate range. Risk is not evenly split, since AMD carries 2.0 times the volatility of the other side.
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.
AMD vs BMY: side by side
| AMD (Advanced Micro Devices) | BMY (Bristol Myers Squibb) | |
|---|---|---|
| 1-year return | +185.2% | +47.3% |
| 5-year return | +328.2% | +22.3% |
| Volatility (ann.) | 55.7% | 27.8% |
| Beta vs S&P 500 | 2.04 | 0.20 |
| Max drawdown (3Y) | -63.0% | -34.1% |
| Market cap | $778.2B | $136.8B |
| P/E (trailing) | 121.9 | 14.9 |
| Dividend yield | 0.00% | 3.71% |
| Sector / category | Information Technology | Health Care |
Year-by-year returns
| Year | AMD | BMY |
|---|---|---|
| 2022 | -55.0% | +19.0% |
| 2023 | +127.6% | -26.1% |
| 2024 | -18.1% | +15.8% |
| 2025 | +77.3% | +0.1% |
| 2026 | +122.6% | +28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMD and BMY good diversifiers for each other?
Yes. With a correlation of -0.18, AMD and BMY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMD and BMY?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.43 over the last year and -0.11 over 5 years.
Is BMY a good diversifier for AMD?
Yes. With a correlation of -0.18, AMD and BMY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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/amd-vs-bmy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amd-vs-bmy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMD correlations · BMY correlations
