AMRX vs ASB: Correlation
Amneal Pharmaceuticals, Inc. (AMRX) and Associated Banc-Corp (ASB) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMRX and ASB?
Across a 3-year window, the weekly returns of AMRX and ASB correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.39, with an annualized covariance of 545.3 %².
ASB is one of the assets that tracks AMRX most closely: it ranks #2 out of the 11 assets we track against AMRX. Their recent paths diverged sharply: over the last 12 months AMRX outperformed by 73.9 percentage points (+92.4% for AMRX against +18.5% for ASB).
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.
AMRX vs ASB: side by side
| AMRX (Amneal Pharmaceuticals, Inc.) | ASB (Associated Banc-Corp) | |
|---|---|---|
| 1-year return | +92.4% | +18.5% |
| 5-year return | +243.0% | +82.7% |
| Volatility (ann.) | 36.9% | 29.0% |
| Beta vs S&P 500 | 0.86 | 1.03 |
| Max drawdown (3Y) | -24.6% | -31.6% |
| Market cap | $6.3B | $5.8B |
| P/E (trailing) | 37.5 | 10.8 |
| Dividend yield | 0.00% | 3.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMRX | ASB |
|---|---|---|
| 2022 | -58.5% | +6.0% |
| 2023 | +205.0% | -2.9% |
| 2024 | +30.5% | +16.2% |
| 2025 | +59.1% | +11.8% |
| 2026 | +42.9% | +21.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMRX and ASB good diversifiers for each other?
Only partially. A correlation of 0.51 means AMRX and ASB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMRX and ASB?
As of 2026-08-27, the correlation of weekly returns between AMRX and ASB is 0.51 over 3 years, 0.61 over 1 year and 0.39 over 5 years.
Is ASB a good diversifier for AMRX?
Only partially. A correlation of 0.51 means AMRX and ASB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amrx-vs-asb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amrx-vs-asb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMRX correlations · ASB correlations
