AMPH vs CHGA: Correlation
Measured on weekly returns over the past three years, Amphastar Pharmaceuticals, Inc. (AMPH) and Change Agents Corporation (CHGA) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMPH and CHGA?
Over the past 3 years, AMPH and CHGA moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.30). Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -1999.1 %².
CHGA is close to the least connected end of AMPH's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with AMPH ahead by 65.5 points (-28.2% versus -93.7%). One caveat on sizing: CHGA is 3.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AMPH vs CHGA: side by side
| AMPH (Amphastar Pharmaceuticals, Inc.) | CHGA (Change Agents Corporation) | |
|---|---|---|
| 1-year return | -28.2% | -93.7% |
| 5-year return | +12.9% | -99.9% |
| Volatility (ann.) | 44.1% | 148.9% |
| Beta vs S&P 500 | 0.67 | 0.96 |
| Max drawdown (3Y) | -73.4% | -99.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 13.0 | 0.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMPH | CHGA |
|---|---|---|
| 2022 | +20.3% | -36.6% |
| 2023 | +120.7% | -90.7% |
| 2024 | -40.0% | -55.0% |
| 2025 | -27.9% | -63.2% |
| 2026 | -18.3% | -89.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMPH and CHGA good diversifiers for each other?
Yes. With a correlation of -0.30, AMPH and CHGA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMPH and CHGA?
The AMPH/CHGA correlation stands at -0.30 on a 3-year window (1 year: -0.49, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is CHGA a good diversifier for AMPH?
Yes. With a correlation of -0.30, AMPH and CHGA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amph-vs-chga.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amph-vs-chga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMPH correlations · CHGA correlations
