AMGN vs GRX: Correlation
Measured on weekly returns over the past three years, Amgen (AMGN) and The Gabelli Healthcare & Wellness Trust (GRX) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and GRX?
Over the past 3 years, AMGN and GRX moved with a correlation of 0.47, which is moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.47). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 184.9 %².
By 3-year correlation, GRX places #9 of the 31 assets tracked against AMGN. Correlation aside, the last 12 months split them widely, with AMGN ahead by 41.7 points (+56.0% versus +14.3%). One caveat on sizing: AMGN is 1.7 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 GRX: side by side
| AMGN (Amgen) | GRX (The Gabelli Healthcare & Wellness Trust) | |
|---|---|---|
| 1-year return | +56.0% | +14.3% |
| 5-year return | +127.8% | +1.5% |
| Volatility (ann.) | 26.3% | 15.1% |
| Beta vs S&P 500 | 0.34 | 0.46 |
| Max drawdown (3Y) | -22.7% | -17.9% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | 67.0 |
| Dividend yield | 2.23% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | AMGN | GRX |
|---|---|---|
| 2022 | +20.4% | -20.0% |
| 2023 | +13.5% | -3.3% |
| 2024 | -6.8% | +9.6% |
| 2025 | +29.7% | +7.0% |
| 2026 | +36.2% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and GRX good diversifiers for each other?
Reasonably. At 0.47, AMGN and GRX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMGN and GRX?
The AMGN/GRX correlation stands at 0.47 on a 3-year window (1 year: 0.58, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is GRX a good diversifier for AMGN?
Reasonably. At 0.47, AMGN and GRX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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-grx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amgn-vs-grx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMGN correlations · GRX correlations
