AMGN vs IBB: Correlation
Measured on weekly returns over the past three years, Amgen (AMGN) and iShares Biotechnology ETF (IBB) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and IBB?
Over the past 3 years, AMGN and IBB moved with a correlation of 0.60, which is strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 327.7 %².
In AMGN's tracked universe of 31 assets, IBB sits right near the top at #2. Twelve-month performance is nearly a tie, at +56.0% for AMGN and +55.4% for IBB. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.73.
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 IBB: side by side
| AMGN (Amgen) | IBB (iShares Biotechnology ETF) | |
|---|---|---|
| 1-year return | +56.0% | +55.4% |
| 5-year return | +127.8% | +26.6% |
| Volatility (ann.) | 26.3% | 20.7% |
| Beta vs S&P 500 | 0.34 | 0.81 |
| Max drawdown (3Y) | -22.7% | -24.9% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.23% | 0.22% |
| Expense ratio | – | 0.44% |
| Assets under management | – | $9.2B |
| Sector / category | Health Care | ETF · Thematic |
IBB, iShares's Health fund, carries $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | AMGN | IBB |
|---|---|---|
| 2022 | +20.4% | -13.7% |
| 2023 | +13.5% | +3.8% |
| 2024 | -6.8% | -2.4% |
| 2025 | +29.7% | +28.0% |
| 2026 | +36.2% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AMGN represents 8.43% of IBB's portfolio, so part of any move in IBB is AMGN itself, and the correlation between them is partly mechanical.
Are AMGN and IBB good diversifiers for each other?
Only partially. A correlation of 0.60 means AMGN and IBB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMGN and IBB?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.60 over the last year and 0.55 over 5 years.
Is IBB a good diversifier for AMGN?
Only partially. A correlation of 0.60 means AMGN and IBB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 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-ibb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amgn-vs-ibb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMGN correlations · IBB correlations
