ALG vs RYDE: Correlation
Measured on weekly returns over the past three years, Alamo Group, Inc. (ALG) and Ryde Group Ltd. Class A (RYDE) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and RYDE?
On 3 years of weekly data the ALG/RYDE correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.29 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -2008.7 %².
RYDE is close to the least connected end of ALG's tracked universe, ranking #13 of 17. Correlation aside, the last 12 months split them widely, with RYDE ahead by 141.9 points (-24.0% versus +117.9%). One caveat on sizing: RYDE is 7.4 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 RYDE: side by side
| ALG (Alamo Group, Inc.) | RYDE (Ryde Group Ltd. Class A) | |
|---|---|---|
| 1-year return | -24.0% | +117.9% |
| 5-year return | +9.2% | n/a |
| Volatility (ann.) | 30.3% | 224.8% |
| Beta vs S&P 500 | 0.83 | -0.77 |
| Max drawdown (3Y) | -36.3% | -99.1% |
| Market cap | $2.0B | $0.1B |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 0.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | RYDE |
|---|---|---|
| 2022 | -3.3% | – |
| 2023 | +49.2% | – |
| 2024 | -11.1% | – |
| 2025 | -9.1% | -43.5% |
| 2026 | -1.7% | +147.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and RYDE good diversifiers for each other?
Yes. With a correlation of -0.29, ALG and RYDE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALG and RYDE?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.42 over the last year and n/a over 5 years.
Is RYDE a good diversifier for ALG?
Yes. With a correlation of -0.29, ALG and RYDE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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-ryde.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alg-vs-ryde/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALG correlations · RYDE correlations
