ALGN vs GDV: Correlation
How closely do Align Technology (ALGN) and Gabelli Dividend & Income Trust (GDV) 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 GDV?
On 3 years of weekly data the ALGN/GDV correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 353.2 %².
By 3-year correlation, GDV places #9 of the 37 assets tracked against ALGN. The trailing year gives GDV the advantage: +11.9% versus +20.3%, a 8.4-point spread. Note the risk asymmetry: ALGN runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 GDV: side by side
| ALGN (Align Technology) | GDV (Gabelli Dividend & Income Trust) | |
|---|---|---|
| 1-year return | +11.9% | +20.3% |
| 5-year return | -77.4% | +53.8% |
| Volatility (ann.) | 44.3% | 15.0% |
| Beta vs S&P 500 | 1.51 | 0.90 |
| Max drawdown (3Y) | -66.7% | -16.1% |
| Market cap | $11.3B | $2.7B |
| P/E (trailing) | 27.6 | 6.3 |
| Dividend yield | 0.00% | 5.51% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | GDV |
|---|---|---|
| 2022 | -67.9% | -18.6% |
| 2023 | +29.9% | +11.9% |
| 2024 | -23.9% | +18.1% |
| 2025 | -25.1% | +22.8% |
| 2026 | +1.7% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and GDV good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGN and GDV?
The ALGN/GDV correlation stands at 0.53 on a 3-year window (1 year: 0.48, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is GDV a good diversifier for ALGN?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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-gdv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-gdv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGN correlations · GDV correlations
