Align Technology Correlations

ALGN Stock

USD 190.82 3.60 1.92%

The current 90-days correlation between Align Technology and Qiagen NV is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Align Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Align Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Align Technology Correlation With Market

Very poor diversification

The correlation between Align Technology and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Align Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Align Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Align Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

To learn how to invest in Align Stock, please use our How to Invest in Align Technology guide.

Moving together with Align Stock

0.69	HYB	HOYA	Pair Corr
0.72	DXCM	DexCom Inc	Pair Corr
0.74	VREX	Varex Imaging Corp	Pair Corr

Moving against Align Stock

0.82	OTC	Ocumetics Technology Corp	Pair Corr
0.77	ELAB	Elevai Labs Common	Pair Corr
0.72	EW	Edwards Lifesciences Corp	Pair Corr
0.72	IPD	Impedimed Earnings Call This Week	Pair Corr
0.47	DYNT	Dynatronics	Pair Corr
0.43	49Z	Cellink AB	Pair Corr
0.84	AHC	Austco Healthcare Earnings Call This Week	Pair Corr
0.77	EUDA	EUDA Health Holdings	Pair Corr
0.7	ENOV	Enovis Corp Earnings Call Next Week	Pair Corr
0.64	IUI1	Intuitive Surgical	Pair Corr
0.61	CBHD	Coloplast AS	Pair Corr
0.6	ABT	Abbott Laboratories	Pair Corr
0.58	MM3	Merit Medical Systems Earnings Call This Week	Pair Corr
0.43	UK2	Shandong Weigao Group	Pair Corr

Related Correlations Analysis

	QGEN	GMED	PEN	ENSG	BMRN	BIO	EXEL	HIMS	RVTY
QGEN		0.57	0.87	0.18	0.3	-0.34	0.08	-0.65	0.72	QGEN
GMED	0.57		0.57	-0.04	0.32	0.19	0.45	-0.13	0.82	GMED
PEN	0.87	0.57		0.13	0.44	-0.48	0.18	-0.68	0.64	PEN
ENSG	0.18	-0.04	0.13		0.37	-0.51	0.16	-0.68	-0.2	ENSG
BMRN	0.3	0.32	0.44	0.37		-0.32	0.59	-0.55	0.02	BMRN
BIO	-0.34	0.19	-0.48	-0.51	-0.32		0.04	0.72	0.18	BIO
EXEL	0.08	0.45	0.18	0.16	0.59	0.04		-0.09	0.19	EXEL
HIMS	-0.65	-0.13	-0.68	-0.68	-0.55	0.72	-0.09		-0.13	HIMS
RVTY	0.72	0.82	0.64	-0.2	0.02	0.18	0.19	-0.13		RVTY
	QGEN	GMED	PEN	ENSG	BMRN	BIO	EXEL	HIMS	RVTY

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PEN	+ 0.87	QGEN
RVTY	+ 0.82	GMED
RVTY	+ 0.72	QGEN
HIMS	+ 0.72	BIO
RVTY	+ 0.64	PEN
EXEL	+ 0.59	BMRN

High negative correlations

HIMS	- 0.68	ENSG
HIMS	- 0.68	PEN
HIMS	- 0.65	QGEN
HIMS	- 0.55	BMRN
BIO	- 0.51	ENSG
BIO	- 0.48	PEN

Risk-Adjusted Indicators

There is a big difference between Align Stock performing well and Align Technology Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Align Technology's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QGEN	1.34	0.27	0.17	(0.48)	1.05	(1.95)	2.86	(2.52)	19.84
GMED	1.28	0.06	0.05	0.09	1.24	(1.74)	3.63	(2.45)	7.49
PEN	1.31	0.29	0.18	0.47	1.22	(1.63)	3.34	(1.94)	16.34
ENSG	1.19	0.24	0.20	0.39	0.87	(1.52)	3.15	(1.62)	14.35
BMRN	1.56	0.17	0.10	0.38	1.40	(1.84)	3.15	(2.32)	22.06
BIO	1.43	(0.31)	0.00	(0.26)	0.00	0.00	3.02	(2.88)	17.85
EXEL	1.50	0.01	0.00	0.06	1.77	(1.65)	3.61	(2.93)	10.16
HIMS	3.08	(1.25)	0.00	3.53	0.00	0.00	4.19	(7.61)	24.87
RVTY	1.84	0.02	0.02	0.05	2.10	(2.18)	4.52	(3.48)	11.58

Align Technology Corporate Executives

Elected by the shareholders, the Align Technology's board of directors comprises two types of representatives: Align Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Align. The board's role is to monitor Align Technology's management team and ensure that shareholders' interests are well served. Align Technology's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Align Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.

John Morici

CFO Finance

Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC