AMGN vs PULM: Correlation
How closely do Amgen (AMGN) and Pulmatrix, Inc. (PULM) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and PULM?
On 3 years of weekly data the AMGN/PULM correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.23). The 5-year figure is -0.18, and annualized covariance runs at -863.8 %².
Within AMGN's tracked universe of 31 assets, PULM comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMGN ahead by 124.7 points (+56.0% versus -68.7%). Note the risk asymmetry: PULM runs 5.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 PULM: side by side
| AMGN (Amgen) | PULM (Pulmatrix, Inc.) | |
|---|---|---|
| 1-year return | +56.0% | -68.7% |
| 5-year return | +127.8% | -90.6% |
| Volatility (ann.) | 26.3% | 144.8% |
| Beta vs S&P 500 | 0.34 | -0.18 |
| Max drawdown (3Y) | -22.7% | -88.1% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.23% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | AMGN | PULM |
|---|---|---|
| 2022 | +20.4% | -55.7% |
| 2023 | +13.5% | -52.1% |
| 2024 | -6.8% | +275.3% |
| 2025 | +29.7% | -68.1% |
| 2026 | +36.2% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMGN and PULM good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMGN and PULM?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.06 over the last year and -0.18 over 5 years.
Is PULM a good diversifier for AMGN?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 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-pulm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amgn-vs-pulm/)
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Related comparisons
Hubs: AMGN correlations · PULM correlations
