AMGN vs BME: Correlation
Amgen (AMGN) and Blackrock Health Sciences Trust (BME) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and BME?
On 3 years of weekly data the AMGN/BME correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 201.7 %².
Few assets follow AMGN as closely as BME, which ranks #3 of 31 tracked partners. Correlation aside, the last 12 months split them widely, with AMGN ahead by 20.0 points (+56.0% versus +36.0%). One caveat on sizing: AMGN is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 BME: side by side
| AMGN (Amgen) | BME (Blackrock Health Sciences Trust) | |
|---|---|---|
| 1-year return | +56.0% | +36.0% |
| 5-year return | +127.8% | +33.5% |
| Volatility (ann.) | 26.3% | 14.4% |
| Beta vs S&P 500 | 0.34 | 0.45 |
| Max drawdown (3Y) | -22.7% | -14.4% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | 7.8 |
| Dividend yield | 2.23% | 6.80% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | AMGN | BME |
|---|---|---|
| 2022 | +20.4% | -4.6% |
| 2023 | +13.5% | -1.1% |
| 2024 | -6.8% | -0.1% |
| 2025 | +29.7% | +17.9% |
| 2026 | +36.2% | +17.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and BME good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMGN and BME?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.61 over the last year and 0.48 over 5 years.
Is BME a good diversifier for AMGN?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AMGN correlations · BME correlations
