ALGN vs IDXX: Correlation
How closely do Align Technology (ALGN) and Idexx Laboratories (IDXX) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and IDXX?
Across a 3-year window, the weekly returns of ALGN and IDXX correlate at 0.42, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.42). Stretching to 5 years gives 0.52, with an annualized covariance of 578.3 %².
Among the 37 assets we track against ALGN, IDXX ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ALGN ahead by 26.8 points (+11.9% versus -14.9%). On a rolling one-year basis the correlation drifted between 0.31 and 0.61, 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 IDXX: side by side
| ALGN (Align Technology) | IDXX (Idexx Laboratories) | |
|---|---|---|
| 1-year return | +11.9% | -14.9% |
| 5-year return | -77.4% | -20.7% |
| Volatility (ann.) | 44.3% | 30.9% |
| Beta vs S&P 500 | 1.51 | 1.01 |
| Max drawdown (3Y) | -66.7% | -37.4% |
| Market cap | $11.3B | $42.9B |
| P/E (trailing) | 27.6 | 38.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ALGN | IDXX |
|---|---|---|
| 2022 | -67.9% | -38.0% |
| 2023 | +29.9% | +36.1% |
| 2024 | -23.9% | -25.5% |
| 2025 | -25.1% | +63.6% |
| 2026 | +1.7% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and IDXX good diversifiers for each other?
Reasonably. At 0.42, ALGN and IDXX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALGN and IDXX?
The ALGN/IDXX correlation stands at 0.42 on a 3-year window (1 year: 0.30, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is IDXX a good diversifier for ALGN?
Reasonably. At 0.42, ALGN and IDXX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/algn-vs-idxx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/algn-vs-idxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGN correlations · IDXX correlations
