ALGN vs UPS: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and United Parcel Service (UPS) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and UPS?
On 3 years of weekly data the ALGN/UPS correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 805.5 %².
UPS is one of the assets that tracks ALGN most closely: it ranks #1 out of the 37 assets we track against ALGN. The last year tells two different stories: UPS led by 16.3 percentage points, +11.9% for ALGN against +28.2% for UPS. The rolling one-year correlation moved between 0.34 and 0.83 over the past three years, a moderate range. Risk is not evenly split, since ALGN carries 1.5 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 UPS: side by side
| ALGN (Align Technology) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +11.9% | +28.2% |
| 5-year return | -77.4% | -31.0% |
| Volatility (ann.) | 44.3% | 29.4% |
| Beta vs S&P 500 | 1.51 | 0.81 |
| Max drawdown (3Y) | -66.7% | -46.5% |
| Market cap | $11.3B | $89.9B |
| P/E (trailing) | 27.6 | 19.6 |
| Dividend yield | 0.00% | 6.21% |
| Sector / category | Health Care | Industrials |
Year-by-year returns
| Year | ALGN | UPS |
|---|---|---|
| 2022 | -67.9% | -16.2% |
| 2023 | +29.9% | -6.0% |
| 2024 | -23.9% | -15.9% |
| 2025 | -25.1% | -15.9% |
| 2026 | +1.7% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and UPS good diversifiers for each other?
Only partially. A correlation of 0.62 means ALGN and UPS 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 UPS?
The ALGN/UPS correlation stands at 0.62 on a 3-year window (1 year: 0.58, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is UPS a good diversifier for ALGN?
Only partially. A correlation of 0.62 means ALGN and UPS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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.
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Related comparisons
Hubs: ALGN correlations · UPS correlations
