ALG vs TEX: Correlation
Alamo Group, Inc. (ALG) and Terex Corporation (TEX) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and TEX?
Across a 3-year window, the weekly returns of ALG and TEX correlate at 0.65, strong. Recent behaviour matches the longer record: 0.59 over 1 year against 0.65 over 3. Stretching to 5 years gives 0.65, with an annualized covariance of 812.6 %².
TEX is one of the assets that tracks ALG most closely: it ranks #2 out of the 17 assets we track against ALG. Their recent paths diverged sharply: over the last 12 months TEX outperformed by 48.2 percentage points (-24.0% for ALG against +24.2% for TEX).
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 TEX: side by side
| ALG (Alamo Group, Inc.) | TEX (Terex Corporation) | |
|---|---|---|
| 1-year return | -24.0% | +24.2% |
| 5-year return | +9.2% | +31.7% |
| Volatility (ann.) | 30.3% | 41.0% |
| Beta vs S&P 500 | 0.83 | 1.38 |
| Max drawdown (3Y) | -36.3% | -51.3% |
| Market cap | $2.0B | $7.4B |
| P/E (trailing) | 19.8 | 31.2 |
| Dividend yield | 0.78% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | TEX |
|---|---|---|
| 2022 | -3.3% | -1.4% |
| 2023 | +49.2% | +36.1% |
| 2024 | -11.1% | -18.6% |
| 2025 | -9.1% | +17.3% |
| 2026 | -1.7% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and TEX good diversifiers for each other?
Only partially. A correlation of 0.65 means ALG and TEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALG and TEX?
The ALG/TEX correlation stands at 0.65 on a 3-year window (1 year: 0.59, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is TEX a good diversifier for ALG?
Only partially. A correlation of 0.65 means ALG and TEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
A reading of 0.65 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-tex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alg-vs-tex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALG correlations · TEX correlations
