ALGN vs FGNX: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and FG Nexus Inc. (FGNX) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and FGNX?
Across a 3-year window, the weekly returns of ALGN and FGNX correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.19 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -876.3 %².
By 3-year correlation, FGNX places #28 of the 37 assets tracked against ALGN. Correlation aside, the last 12 months split them widely, with ALGN ahead by 99.4 points (+11.9% versus -87.5%). Risk is not evenly split, since FGNX carries 2.4 times the volatility of the other side.
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 FGNX: side by side
| ALGN (Align Technology) | FGNX (FG Nexus Inc.) | |
|---|---|---|
| 1-year return | +11.9% | -87.5% |
| 5-year return | -77.4% | -98.8% |
| Volatility (ann.) | 44.3% | 105.1% |
| Beta vs S&P 500 | 1.51 | -0.07 |
| Max drawdown (3Y) | -66.7% | -97.9% |
| Market cap | $11.3B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | FGNX |
|---|---|---|
| 2022 | -67.9% | -24.2% |
| 2023 | +29.9% | -43.9% |
| 2024 | -23.9% | -45.5% |
| 2025 | -25.1% | -87.4% |
| 2026 | +1.7% | -42.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and FGNX good diversifiers for each other?
Yes. With a correlation of -0.19, ALGN and FGNX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALGN and FGNX?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with 0.04 over the last year and -0.05 over 5 years.
Is FGNX a good diversifier for ALGN?
Yes. With a correlation of -0.19, ALGN and FGNX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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
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Related comparisons
Hubs: ALGN correlations · FGNX correlations
