ALGN vs ASG: Correlation
How closely do Align Technology (ALGN) and Liberty All-Star Growth Fund, Inc. (ASG) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and ASG?
Across a 3-year window, the weekly returns of ALGN and ASG correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 433.1 %².
By 3-year correlation, ASG places #8 of the 37 assets tracked against ALGN. On 12-month performance ALGN holds a 8.6-point edge, +11.9% against +3.3%. One caveat on sizing: ALGN is 2.4 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.
ALGN vs ASG: side by side
| ALGN (Align Technology) | ASG (Liberty All-Star Growth Fund, Inc.) | |
|---|---|---|
| 1-year return | +11.9% | +3.3% |
| 5-year return | -77.4% | -5.6% |
| Volatility (ann.) | 44.3% | 18.3% |
| Beta vs S&P 500 | 1.51 | 1.12 |
| Max drawdown (3Y) | -66.7% | -25.3% |
| Market cap | $11.3B | $0.3B |
| P/E (trailing) | 27.6 | 23.9 |
| Dividend yield | 0.00% | 8.76% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | ASG |
|---|---|---|
| 2022 | -67.9% | -40.9% |
| 2023 | +29.9% | +16.2% |
| 2024 | -23.9% | +16.8% |
| 2025 | -25.1% | +2.2% |
| 2026 | +1.7% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and ASG good diversifiers for each other?
Only partially. A correlation of 0.53 means ALGN and ASG 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 ALGN and ASG?
The ALGN/ASG correlation stands at 0.53 on a 3-year window (1 year: 0.53, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is ASG a good diversifier for ALGN?
Only partially. A correlation of 0.53 means ALGN and ASG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/algn-vs-asg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/algn-vs-asg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGN correlations · ASG correlations
