ALVO vs MNST: Correlation
How closely do Alvotech (ALVO) and Monster Beverage (MNST) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALVO and MNST?
On 3 years of weekly data the ALVO/MNST correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.25). The 5-year figure is -0.19, and annualized covariance runs at -894.0 %².
Out of 12 assets tracked against ALVO, MNST lands near the bottom at #11. The trailing year gives MNST the advantage: -39.2% versus -24.3%, a 14.9-point spread.
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.
ALVO vs MNST: side by side
| ALVO (Alvotech) | MNST (Monster Beverage) | |
|---|---|---|
| 1-year return | -39.2% | -24.3% |
| 5-year return | -56.4% | -4.5% |
| Volatility (ann.) | 52.8% | 68.6% |
| Beta vs S&P 500 | 0.81 | 0.80 |
| Max drawdown (3Y) | -82.6% | -54.5% |
| Market cap | $1.7B | $91.5B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ALVO | MNST |
|---|---|---|
| 2022 | – | +5.7% |
| 2023 | +14.8% | +13.5% |
| 2024 | +15.2% | -8.8% |
| 2025 | -61.2% | +45.9% |
| 2026 | -4.9% | -39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALVO and MNST good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALVO and MNST?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.36 over the last year and -0.19 over 5 years.
Is MNST a good diversifier for ALVO?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alvo-vs-mnst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alvo-vs-mnst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALVO correlations · MNST correlations
