AMGN vs NVS: Correlation
Amgen (AMGN) and Novartis AG (NVS) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and NVS?
Over the past 3 years, AMGN and NVS moved with a correlation of 0.47, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.59 versus 0.47 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 240.3 %².
By 3-year correlation, NVS places #10 of the 31 assets tracked against AMGN. The last year tells two different stories: AMGN led by 30.4 percentage points, +56.0% for AMGN against +25.6% for NVS.
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 NVS: side by side
| AMGN (Amgen) | NVS (Novartis AG) | |
|---|---|---|
| 1-year return | +56.0% | +25.6% |
| 5-year return | +127.8% | +103.5% |
| Volatility (ann.) | 26.3% | 19.6% |
| Beta vs S&P 500 | 0.34 | 0.25 |
| Max drawdown (3Y) | -22.7% | -20.0% |
| Market cap | $236.3B | $293.9B |
| P/E (trailing) | 27.3 | 23.4 |
| Dividend yield | 2.23% | 2.96% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | AMGN | NVS |
|---|---|---|
| 2022 | +20.4% | +8.1% |
| 2023 | +13.5% | +16.1% |
| 2024 | -6.8% | +0.0% |
| 2025 | +29.7% | +47.0% |
| 2026 | +36.2% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and NVS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AMGN and NVS?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.59 over the last year and 0.49 over 5 years.
Is NVS a good diversifier for AMGN?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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-nvs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amgn-vs-nvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMGN correlations · NVS correlations
