ALGN vs NVST: Correlation
Align Technology (ALGN) and Envista Holdings Corporation (NVST) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and NVST?
Over the past 3 years, ALGN and NVST moved with a correlation of 0.52, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.74 versus 0.52 over 3 years. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 819.6 %².
Within ALGN's tracked universe of 37 assets, NVST comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVST ahead by 17.3 points (+11.9% versus +29.2%).
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 NVST: side by side
| ALGN (Align Technology) | NVST (Envista Holdings Corporation) | |
|---|---|---|
| 1-year return | +11.9% | +29.2% |
| 5-year return | -77.4% | -35.8% |
| Volatility (ann.) | 44.3% | 35.4% |
| Beta vs S&P 500 | 1.51 | 0.80 |
| Max drawdown (3Y) | -66.7% | -55.4% |
| Market cap | $11.3B | $4.4B |
| P/E (trailing) | 27.6 | 48.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | NVST |
|---|---|---|
| 2022 | -67.9% | -25.3% |
| 2023 | +29.9% | -28.5% |
| 2024 | -23.9% | -19.8% |
| 2025 | -25.1% | +12.5% |
| 2026 | +1.7% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and NVST good diversifiers for each other?
Only partially. A correlation of 0.52 means ALGN and NVST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALGN and NVST?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.74 over the last year and 0.56 over 5 years.
Is NVST a good diversifier for ALGN?
Only partially. A correlation of 0.52 means ALGN and NVST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/algn-vs-nvst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-nvst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALGN correlations · NVST correlations
