ALC vs COO: Correlation
How closely do Alcon Inc. (ALC) and Cooper Companies (The) (COO) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALC and COO?
On 3 years of weekly data the ALC/COO correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 457.1 %².
In ALC's tracked universe of 13 assets, COO sits right near the top at #1. Over the last 12 months COO came out ahead by 6.5 percentage points (-10.8% against -4.3%).
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.
ALC vs COO: side by side
| ALC (Alcon Inc.) | COO (Cooper Companies (The)) | |
|---|---|---|
| 1-year return | -10.8% | -4.3% |
| 5-year return | -10.3% | -36.8% |
| Volatility (ann.) | 26.0% | 27.7% |
| Beta vs S&P 500 | 0.77 | 0.69 |
| Max drawdown (3Y) | -37.9% | -47.0% |
| Market cap | $34.9B | – |
| P/E (trailing) | 55.6 | 61.7 |
| Dividend yield | 0.49% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ALC | COO |
|---|---|---|
| 2022 | -21.1% | -21.1% |
| 2023 | +14.3% | +14.5% |
| 2024 | +9.0% | -2.8% |
| 2025 | -6.8% | -10.8% |
| 2026 | -7.9% | -13.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALC and COO good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALC and COO?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.66 over the last year and 0.67 over 5 years.
Is COO a good diversifier for ALC?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 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/alc-vs-coo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alc-vs-coo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALC correlations · COO correlations
