ALGS vs MVST: Correlation
How closely do Aligos Therapeutics, Inc. (ALGS) and Microvast Holdings, Inc. (MVST) 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 ALGS and MVST?
Across a 3-year window, the weekly returns of ALGS and MVST correlate at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.09 versus 0.42 over 3 years. Stretching to 5 years gives 0.33, with an annualized covariance of 10023.3 %².
Few assets follow ALGS as closely as MVST, which ranks #3 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with ALGS ahead by 33.6 points (-37.6% versus -71.2%). One caveat on sizing: MVST is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALGS vs MVST: side by side
| ALGS (Aligos Therapeutics, Inc.) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | -37.6% | -71.2% |
| 5-year return | -98.3% | -91.6% |
| Volatility (ann.) | 114.1% | 209.2% |
| Beta vs S&P 500 | 1.68 | 0.26 |
| Max drawdown (3Y) | -91.3% | -92.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALGS | MVST |
|---|---|---|
| 2022 | -92.0% | -73.0% |
| 2023 | -30.3% | -8.5% |
| 2024 | +140.0% | +47.9% |
| 2025 | -76.6% | +35.3% |
| 2026 | -24.1% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGS and MVST good diversifiers for each other?
Reasonably. At 0.42, ALGS and MVST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALGS and MVST?
The ALGS/MVST correlation stands at 0.42 on a 3-year window (1 year: 0.09, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is MVST a good diversifier for ALGS?
Reasonably. At 0.42, ALGS and MVST 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.
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Related comparisons
Hubs: ALGS correlations · MVST correlations
