AMGN vs INCY: Correlation
Measured on weekly returns over the past three years, Amgen (AMGN) and Incyte (INCY) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and INCY?
Across a 3-year window, the weekly returns of AMGN and INCY correlate at 0.44, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.65 versus 0.44 over 3 years. Stretching to 5 years gives 0.45, with an annualized covariance of 382.1 %².
Among the 31 assets we track against AMGN, INCY ranks #15 by 3-year correlation. On 12-month performance AMGN holds a 5.4-point edge, +56.0% against +50.6%. On a rolling one-year basis the correlation drifted between 0.26 and 0.63, a moderate band.
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 INCY: side by side
| AMGN (Amgen) | INCY (Incyte) | |
|---|---|---|
| 1-year return | +56.0% | +50.6% |
| 5-year return | +127.8% | +68.0% |
| Volatility (ann.) | 26.3% | 33.1% |
| Beta vs S&P 500 | 0.34 | 0.45 |
| Max drawdown (3Y) | -22.7% | -33.8% |
| Market cap | $236.3B | $25.9B |
| P/E (trailing) | 27.3 | 16.3 |
| Dividend yield | 2.23% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | AMGN | INCY |
|---|---|---|
| 2022 | +20.4% | +9.4% |
| 2023 | +13.5% | -21.8% |
| 2024 | -6.8% | +10.0% |
| 2025 | +29.7% | +43.0% |
| 2026 | +36.2% | +29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and INCY good diversifiers for each other?
Reasonably. At 0.44, AMGN and INCY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMGN and INCY?
The AMGN/INCY correlation stands at 0.44 on a 3-year window (1 year: 0.65, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is INCY a good diversifier for AMGN?
Reasonably. At 0.44, AMGN and INCY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amgn-vs-incy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amgn-vs-incy/)
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Related comparisons
Hubs: AMGN correlations · INCY correlations
