AMGN vs HSY: Correlation
How closely do Amgen (AMGN) and Hershey Company (The) (HSY) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and HSY?
On 3 years of weekly data the AMGN/HSY correlation comes out at 0.46, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.65 versus 0.46 over 3 years. The 5-year figure is 0.38, and annualized covariance runs at 308.2 %².
By 3-year correlation, HSY places #12 of the 31 assets tracked against AMGN. The last year tells two different stories: AMGN led by 53.2 percentage points, +56.0% for AMGN against +2.8% for HSY. The relationship is regime-dependent: the rolling one-year correlation swung between -0.04 and 0.63 over the past three years, so this pair behaves very differently depending on the market environment.
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 HSY: side by side
| AMGN (Amgen) | HSY (Hershey Company (The)) | |
|---|---|---|
| 1-year return | +56.0% | +2.8% |
| 5-year return | +127.8% | +16.5% |
| Volatility (ann.) | 26.3% | 25.6% |
| Beta vs S&P 500 | 0.34 | 0.03 |
| Max drawdown (3Y) | -22.7% | -31.2% |
| Market cap | $236.3B | $36.4B |
| P/E (trailing) | 27.3 | 25.3 |
| Dividend yield | 2.23% | 3.05% |
| Sector / category | Health Care | Consumer Staples |
Year-by-year returns
| Year | AMGN | HSY |
|---|---|---|
| 2022 | +20.4% | +21.9% |
| 2023 | +13.5% | -17.9% |
| 2024 | -6.8% | -6.5% |
| 2025 | +29.7% | +11.0% |
| 2026 | +36.2% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and HSY good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AMGN and HSY?
As of 2026-08-27, the correlation of weekly returns between AMGN and HSY is 0.46 over 3 years, 0.65 over 1 year and 0.38 over 5 years.
Is HSY a good diversifier for AMGN?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amgn-vs-hsy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amgn-vs-hsy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMGN correlations · HSY correlations
