ALGN vs DXCM: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and Dexcom (DXCM) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and DXCM?
On 3 years of weekly data the ALGN/DXCM correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.36). The 5-year figure is 0.39, and annualized covariance runs at 739.2 %².
Among the 37 assets we track against ALGN, DXCM ranks #25 by 3-year correlation. Neither side won the trailing year by much: +11.9% against +16.9%. On a rolling one-year basis the correlation drifted between 0.19 and 0.49, a moderate band.
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 DXCM: side by side
| ALGN (Align Technology) | DXCM (Dexcom) | |
|---|---|---|
| 1-year return | +11.9% | +16.9% |
| 5-year return | -77.4% | -31.5% |
| Volatility (ann.) | 44.3% | 46.7% |
| Beta vs S&P 500 | 1.51 | 1.02 |
| Max drawdown (3Y) | -66.7% | -61.0% |
| Market cap | $11.3B | $33.7B |
| P/E (trailing) | 27.6 | 35.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ALGN | DXCM |
|---|---|---|
| 2022 | -67.9% | -15.6% |
| 2023 | +29.9% | +9.6% |
| 2024 | -23.9% | -37.3% |
| 2025 | -25.1% | -14.7% |
| 2026 | +1.7% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and DXCM good diversifiers for each other?
Reasonably. At 0.36, ALGN and DXCM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALGN and DXCM?
As of 2026-08-27, the correlation of weekly returns between ALGN and DXCM is 0.36 over 3 years, 0.24 over 1 year and 0.39 over 5 years.
Is DXCM a good diversifier for ALGN?
Reasonably. At 0.36, ALGN and DXCM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-dxcm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/algn-vs-dxcm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALGN correlations · DXCM correlations
