AMGN vs BIIB: Correlation
How closely do Amgen (AMGN) and Biogen (BIIB) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and BIIB?
On 3 years of weekly data the AMGN/BIIB correlation comes out at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.41, and annualized covariance runs at 385.7 %².
Within AMGN's tracked universe of 31 assets, BIIB comes in at #6 by 3-year correlation. The trailing year gives BIIB the advantage: +56.0% versus +62.4%, a 6.4-point spread. The rolling one-year correlation moved between 0.17 and 0.62 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.
AMGN vs BIIB: side by side
| AMGN (Amgen) | BIIB (Biogen) | |
|---|---|---|
| 1-year return | +56.0% | +62.4% |
| 5-year return | +127.8% | -35.7% |
| Volatility (ann.) | 26.3% | 30.1% |
| Beta vs S&P 500 | 0.34 | 0.53 |
| Max drawdown (3Y) | -22.7% | -57.7% |
| Market cap | $236.3B | $32.7B |
| P/E (trailing) | 27.3 | 39.2 |
| Dividend yield | 2.23% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | AMGN | BIIB |
|---|---|---|
| 2022 | +20.4% | +15.4% |
| 2023 | +13.5% | -6.6% |
| 2024 | -6.8% | -40.9% |
| 2025 | +29.7% | +15.1% |
| 2026 | +36.2% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and BIIB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AMGN and BIIB?
The AMGN/BIIB correlation stands at 0.49 on a 3-year window (1 year: 0.50, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is BIIB a good diversifier for AMGN?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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/amgn-vs-biib.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amgn-vs-biib/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMGN correlations · BIIB correlations
