AMGN vs FLYE: Correlation
How closely do Amgen (AMGN) and Fly-E Group, Inc. (FLYE) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and FLYE?
Over the past 3 years, AMGN and FLYE moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.21). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -827.0 %².
Within AMGN's tracked universe of 31 assets, FLYE comes in at #22 by 3-year correlation. The last year tells two different stories: AMGN led by 145.0 percentage points, +56.0% for AMGN against -89.0% for FLYE. Risk is not evenly split, since FLYE carries 5.8 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.
AMGN vs FLYE: side by side
| AMGN (Amgen) | FLYE (Fly-E Group, Inc.) | |
|---|---|---|
| 1-year return | +56.0% | -89.0% |
| 5-year return | +127.8% | n/a |
| Volatility (ann.) | 26.3% | 153.0% |
| Beta vs S&P 500 | 0.34 | 1.73 |
| Max drawdown (3Y) | -22.7% | -99.8% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.23% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | AMGN | FLYE |
|---|---|---|
| 2022 | +20.4% | – |
| 2023 | +13.5% | – |
| 2024 | -6.8% | – |
| 2025 | +29.7% | -92.1% |
| 2026 | +36.2% | -74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and FLYE good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMGN and FLYE?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.37 over the last year and n/a over 5 years.
Is FLYE a good diversifier for AMGN?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: AMGN correlations · FLYE correlations
