ALHC vs SMCI: Correlation
Measured on weekly returns over the past three years, Alignment Healthcare, Inc. (ALHC) and Supermicro (SMCI) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALHC and SMCI?
On 3 years of weekly data the ALHC/SMCI correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is -0.07, and annualized covariance runs at -988.4 %².
Among the 15 assets we track against ALHC, SMCI ranks #8 by 3-year correlation. Twelve-month performance is nearly a tie, at -16.0% for ALHC and -14.1% for SMCI. One caveat on sizing: SMCI 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.
ALHC vs SMCI: side by side
| ALHC (Alignment Healthcare, Inc.) | SMCI (Supermicro) | |
|---|---|---|
| 1-year return | -16.0% | -14.1% |
| 5-year return | -25.5% | +983.4% |
| Volatility (ann.) | 59.1% | 107.1% |
| Beta vs S&P 500 | 0.29 | 3.08 |
| Max drawdown (3Y) | -50.3% | -84.8% |
| Market cap | $2.8B | $24.9B |
| P/E (trailing) | 75.3 | 11.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ALHC | SMCI |
|---|---|---|
| 2022 | -16.4% | +86.8% |
| 2023 | -26.8% | +246.2% |
| 2024 | +30.7% | +7.2% |
| 2025 | +75.6% | -4.0% |
| 2026 | -31.3% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALHC and SMCI good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALHC and SMCI?
As of 2026-08-27, the correlation of weekly returns between ALHC and SMCI is -0.16 over 3 years, -0.18 over 1 year and -0.07 over 5 years.
Is SMCI a good diversifier for ALHC?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
A reading of -0.16 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: ALHC correlations · SMCI correlations
