AMGN vs SCHD: Correlation
How closely do Amgen (AMGN) and Schwab US Dividend Equity ETF (SCHD) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMGN and SCHD?
Over the past 3 years, AMGN and SCHD moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 166.3 %².
Among the 31 assets we track against AMGN, SCHD ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMGN ahead by 26.4 points (+56.0% versus +29.6%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.35 and 0.57. Note the risk asymmetry: AMGN runs 2.0 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 SCHD: side by side
| AMGN (Amgen) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +56.0% | +29.6% |
| 5-year return | +127.8% | +60.9% |
| Volatility (ann.) | 26.3% | 12.9% |
| Beta vs S&P 500 | 0.34 | 0.52 |
| Max drawdown (3Y) | -22.7% | -16.1% |
| Market cap | $236.3B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.23% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Health Care | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | AMGN | SCHD |
|---|---|---|
| 2022 | +20.4% | -3.3% |
| 2023 | +13.5% | +4.5% |
| 2024 | -6.8% | +11.7% |
| 2025 | +29.7% | +4.3% |
| 2026 | +36.2% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SCHD holds AMGN at a 4.8% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AMGN and SCHD good diversifiers for each other?
Reasonably. At 0.49, AMGN and SCHD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMGN and SCHD?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.49 over the last year and 0.51 over 5 years.
Is SCHD a good diversifier for AMGN?
Reasonably. At 0.49, AMGN and SCHD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amgn-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMGN correlations · SCHD correlations
