ALGN vs USA: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and Liberty All-Star Equity Fund (USA) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and USA?
Across a 3-year window, the weekly returns of ALGN and USA correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 360.3 %².
Among the 37 assets we track against ALGN, USA ranks #13 by 3-year correlation. Over the last 12 months ALGN came out ahead by 10.3 percentage points (+11.9% against +1.6%). Note the risk asymmetry: ALGN runs 2.9 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 USA: side by side
| ALGN (Align Technology) | USA (Liberty All-Star Equity Fund) | |
|---|---|---|
| 1-year return | +11.9% | +1.6% |
| 5-year return | -77.4% | +18.1% |
| Volatility (ann.) | 44.3% | 15.2% |
| Beta vs S&P 500 | 1.51 | 0.89 |
| Max drawdown (3Y) | -66.7% | -17.7% |
| Market cap | $11.3B | – |
| P/E (trailing) | 27.6 | 10.7 |
| Dividend yield | 0.00% | 11.19% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | USA |
|---|---|---|
| 2022 | -67.9% | -25.2% |
| 2023 | +29.9% | +23.2% |
| 2024 | -23.9% | +20.8% |
| 2025 | -25.1% | +0.1% |
| 2026 | +1.7% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and USA 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 USA?
The ALGN/USA correlation stands at 0.53 on a 3-year window (1 year: 0.50, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is USA 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?
On the −1 to +1 scale, 0.53 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.
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Related comparisons
Hubs: ALGN correlations · USA correlations
