ALGN vs EW: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and Edwards Lifesciences (EW) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and EW?
On 3 years of weekly data the ALGN/EW correlation comes out at 0.41, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.41). The 5-year figure is 0.51, and annualized covariance runs at 580.9 %².
By 3-year correlation, EW places #24 of the 37 assets tracked against ALGN. Twelve-month performance is nearly a tie, at +11.9% for ALGN and +11.2% for EW. The rolling one-year correlation moved between 0.23 and 0.61 over the past three years, a moderate range.
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 EW: side by side
| ALGN (Align Technology) | EW (Edwards Lifesciences) | |
|---|---|---|
| 1-year return | +11.9% | +11.2% |
| 5-year return | -77.4% | -23.8% |
| Volatility (ann.) | 44.3% | 31.6% |
| Beta vs S&P 500 | 1.51 | 0.81 |
| Max drawdown (3Y) | -66.7% | -37.5% |
| Market cap | $11.3B | $51.8B |
| P/E (trailing) | 27.6 | 54.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ALGN | EW |
|---|---|---|
| 2022 | -67.9% | -42.4% |
| 2023 | +29.9% | +2.2% |
| 2024 | -23.9% | -2.9% |
| 2025 | -25.1% | +15.2% |
| 2026 | +1.7% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and EW good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALGN and EW?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.28 over the last year and 0.51 over 5 years.
Is EW a good diversifier for ALGN?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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-ew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-ew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALGN correlations · EW correlations
