ALG vs MOBX: Correlation
How closely do Alamo Group, Inc. (ALG) and Mobix Labs, Inc. (MOBX) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and MOBX?
On 3 years of weekly data the ALG/MOBX correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.36 over 3 years. The 5-year figure is -0.29, and annualized covariance runs at -3684.3 %².
Out of 17 assets tracked against ALG, MOBX lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with ALG ahead by 64.0 points (-24.0% versus -88.0%). One caveat on sizing: MOBX is 11.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALG vs MOBX: side by side
| ALG (Alamo Group, Inc.) | MOBX (Mobix Labs, Inc.) | |
|---|---|---|
| 1-year return | -24.0% | -88.0% |
| 5-year return | +9.2% | -98.8% |
| Volatility (ann.) | 30.3% | 333.1% |
| Beta vs S&P 500 | 0.83 | -0.62 |
| Max drawdown (3Y) | -36.3% | -99.1% |
| Market cap | $2.0B | – |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 0.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | MOBX |
|---|---|---|
| 2022 | -3.3% | +3.8% |
| 2023 | +49.2% | -60.6% |
| 2024 | -11.1% | -57.7% |
| 2025 | -9.1% | -84.3% |
| 2026 | -1.7% | -57.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and MOBX good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALG and MOBX?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.59 over the last year and -0.29 over 5 years.
Is MOBX a good diversifier for ALG?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
A reading of -0.36 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/alg-vs-mobx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alg-vs-mobx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALG correlations · MOBX correlations
