AMGN vs JNJ: Correlation
Measured on weekly returns over the past three years, Amgen (AMGN) and Johnson & Johnson (JNJ) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and JNJ?
Over the past 3 years, AMGN and JNJ moved with a correlation of 0.46, which is moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 224.7 %².
Among the 31 assets we track against AMGN, JNJ ranks #13 by 3-year correlation. Neither side won the trailing year by much: +56.0% against +53.7%. On a rolling one-year basis the correlation drifted between 0.32 and 0.61, 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 JNJ: side by side
| AMGN (Amgen) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | +56.0% | +53.7% |
| 5-year return | +127.8% | +76.0% |
| Volatility (ann.) | 26.3% | 18.5% |
| Beta vs S&P 500 | 0.34 | 0.05 |
| Max drawdown (3Y) | -22.7% | -14.4% |
| Market cap | $236.3B | $640.5B |
| P/E (trailing) | 27.3 | 30.9 |
| Dividend yield | 2.23% | 1.94% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | AMGN | JNJ |
|---|---|---|
| 2022 | +20.4% | +6.0% |
| 2023 | +13.5% | -8.6% |
| 2024 | -6.8% | -4.8% |
| 2025 | +29.7% | +47.5% |
| 2026 | +36.2% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and JNJ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AMGN and JNJ?
The AMGN/JNJ correlation stands at 0.46 on a 3-year window (1 year: 0.51, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is JNJ a good diversifier for AMGN?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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-jnj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amgn-vs-jnj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMGN correlations · JNJ correlations
