ALVO vs SBRA: Correlation
Alvotech (ALVO) and Sabra Health Care REIT, Inc. (SBRA) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALVO and SBRA?
On 3 years of weekly data the ALVO/SBRA correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.10, and annualized covariance runs at -277.6 %².
SBRA is close to the least connected end of ALVO's tracked universe, ranking #12 of 12. The last year tells two different stories: SBRA led by 51.3 percentage points, -39.2% for ALVO against +12.1% for SBRA. One caveat on sizing: ALVO is 2.5 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.
ALVO vs SBRA: side by side
| ALVO (Alvotech) | SBRA (Sabra Health Care REIT, Inc.) | |
|---|---|---|
| 1-year return | -39.2% | +12.1% |
| 5-year return | -56.4% | +92.8% |
| Volatility (ann.) | 52.8% | 20.8% |
| Beta vs S&P 500 | 0.81 | 0.19 |
| Max drawdown (3Y) | -82.6% | -16.8% |
| Market cap | $1.7B | $5.3B |
| P/E (trailing) | – | 79.6 |
| Dividend yield | 0.00% | 5.71% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALVO | SBRA |
|---|---|---|
| 2022 | – | +0.4% |
| 2023 | +14.8% | +26.3% |
| 2024 | +15.2% | +31.2% |
| 2025 | -61.2% | +17.0% |
| 2026 | -4.9% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALVO and SBRA 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 SBRA?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.33 over the last year and -0.10 over 5 years.
Is SBRA 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?
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alvo-vs-sbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alvo-vs-sbra/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALVO correlations · SBRA correlations
