ALC vs FIGS: Correlation
How closely do Alcon Inc. (ALC) and FIGS, Inc. (FIGS) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALC and FIGS?
Across a 3-year window, the weekly returns of ALC and FIGS correlate at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.41). Stretching to 5 years gives 0.36, with an annualized covariance of 673.7 %².
Within ALC's tracked universe of 13 assets, FIGS comes in at #8 by 3-year correlation. The last year tells two different stories: FIGS led by 124.1 percentage points, -10.8% for ALC against +113.3% for FIGS. Risk is not evenly split, since FIGS carries 2.5 times the volatility of the other side.
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 FIGS: side by side
| ALC (Alcon Inc.) | FIGS (FIGS, Inc.) | |
|---|---|---|
| 1-year return | -10.8% | +113.3% |
| 5-year return | -10.3% | -63.9% |
| Volatility (ann.) | 26.0% | 63.9% |
| Beta vs S&P 500 | 0.77 | 0.92 |
| Max drawdown (3Y) | -37.9% | -54.4% |
| Market cap | $34.9B | $2.5B |
| P/E (trailing) | 55.6 | 45.8 |
| Dividend yield | 0.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALC | FIGS |
|---|---|---|
| 2022 | -21.1% | -75.6% |
| 2023 | +14.3% | +3.3% |
| 2024 | +9.0% | -10.9% |
| 2025 | -6.8% | +83.5% |
| 2026 | -7.9% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALC and FIGS good diversifiers for each other?
Reasonably. At 0.41, ALC and FIGS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALC and FIGS?
As of 2026-08-27, the correlation of weekly returns between ALC and FIGS is 0.41 over 3 years, 0.55 over 1 year and 0.36 over 5 years.
Is FIGS a good diversifier for ALC?
Reasonably. At 0.41, ALC and FIGS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alc-vs-figs.json
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[](https://www.pairbook.io/pair/alc-vs-figs/)
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Related comparisons
Hubs: ALC correlations · FIGS correlations
