ALGN vs ENGN: Correlation
How closely do Align Technology (ALGN) and enGene Therapeutics Inc. (ENGN) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and ENGN?
Over the past 3 years, ALGN and ENGN moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.22) than the 3-year average (-0.22). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -1512.0 %².
Within ALGN's tracked universe of 37 assets, ENGN comes in at #30 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALGN outperformed by 67.9 percentage points (+11.9% for ALGN against -56.0% for ENGN). One caveat on sizing: ENGN is 3.5 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 ENGN: side by side
| ALGN (Align Technology) | ENGN (enGene Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +11.9% | -56.0% |
| 5-year return | -77.4% | -80.6% |
| Volatility (ann.) | 44.3% | 156.3% |
| Beta vs S&P 500 | 1.51 | -0.97 |
| Max drawdown (3Y) | -66.7% | -94.9% |
| Market cap | $11.3B | $0.1B |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | ENGN |
|---|---|---|
| 2022 | -67.9% | – |
| 2023 | +29.9% | -10.6% |
| 2024 | -23.9% | -28.0% |
| 2025 | -25.1% | +35.8% |
| 2026 | +1.7% | -78.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and ENGN good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALGN and ENGN?
The ALGN/ENGN correlation stands at -0.22 on a 3-year window (1 year: 0.22, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is ENGN a good diversifier for ALGN?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/algn-vs-engn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-engn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALGN correlations · ENGN correlations
