ALGN vs IR: Correlation
Align Technology (ALGN) and Ingersoll Rand (IR) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and IR?
Over the past 3 years, ALGN and IR moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 708.3 %².
Among the 37 assets we track against ALGN, IR ranks #7 by 3-year correlation. The trailing year gives ALGN the advantage: +11.9% versus -2.0%, a 13.9-point spread. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.25 to 0.78.
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 IR: side by side
| ALGN (Align Technology) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +11.9% | -2.0% |
| 5-year return | -77.4% | +49.2% |
| Volatility (ann.) | 44.3% | 29.8% |
| Beta vs S&P 500 | 1.51 | 1.17 |
| Max drawdown (3Y) | -66.7% | -36.6% |
| Market cap | $11.3B | $30.6B |
| P/E (trailing) | 27.6 | 32.6 |
| Dividend yield | 0.00% | 0.15% |
| Sector / category | Health Care | Industrials |
Year-by-year returns
| Year | ALGN | IR |
|---|---|---|
| 2022 | -67.9% | -15.4% |
| 2023 | +29.9% | +48.2% |
| 2024 | -23.9% | +17.1% |
| 2025 | -25.1% | -12.3% |
| 2026 | +1.7% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and IR good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGN and IR?
The ALGN/IR correlation stands at 0.54 on a 3-year window (1 year: 0.61, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is IR a good diversifier for ALGN?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALGN correlations · IR correlations
