AZN vs BIIB: Correlation
AstraZeneca PLC (AZN) and Biogen (BIIB) 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 AZN and BIIB?
Over the past 3 years, AZN and BIIB moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 358.8 %².
Within AZN's tracked universe of 14 assets, BIIB comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BIIB outperformed by 58.4 percentage points (+4.0% for AZN against +62.4% for BIIB).
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.
AZN vs BIIB: side by side
| AZN (AstraZeneca PLC) | BIIB (Biogen) | |
|---|---|---|
| 1-year return | +4.0% | +62.4% |
| 5-year return | +54.7% | -35.7% |
| Volatility (ann.) | 25.1% | 30.1% |
| Beta vs S&P 500 | 0.21 | 0.53 |
| Max drawdown (3Y) | -27.9% | -57.7% |
| Market cap | $255.2B | $32.7B |
| P/E (trailing) | 24.9 | 39.2 |
| Dividend yield | 1.94% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AZN | BIIB |
|---|---|---|
| 2022 | +19.2% | +15.4% |
| 2023 | +1.4% | -6.6% |
| 2024 | -0.6% | -40.9% |
| 2025 | +43.3% | +15.1% |
| 2026 | -9.6% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZN and BIIB 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 AZN and BIIB?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.49 over the last year and 0.39 over 5 years.
Is BIIB a good diversifier for AZN?
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?
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/azn-vs-biib.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azn-vs-biib/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZN correlations · BIIB correlations
