ATEC vs INCY: Correlation
Measured on weekly returns over the past three years, Alphatec Holdings, Inc. (ATEC) and Incyte (INCY) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATEC and INCY?
Across a 3-year window, the weekly returns of ATEC and INCY correlate at 0.40, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.40). Stretching to 5 years gives 0.32, with an annualized covariance of 939.4 %².
In ATEC's tracked universe of 11 assets, INCY sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months INCY outperformed by 91.5 percentage points (-40.9% for ATEC against +50.6% for INCY). Note the risk asymmetry: ATEC runs 2.2 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.
ATEC vs INCY: side by side
| ATEC (Alphatec Holdings, Inc.) | INCY (Incyte) | |
|---|---|---|
| 1-year return | -40.9% | +50.6% |
| 5-year return | -29.0% | +68.0% |
| Volatility (ann.) | 71.5% | 33.1% |
| Beta vs S&P 500 | 0.88 | 0.45 |
| Max drawdown (3Y) | -70.3% | -33.8% |
| Market cap | $1.5B | $25.9B |
| P/E (trailing) | – | 16.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ATEC | INCY |
|---|---|---|
| 2022 | +8.0% | +9.4% |
| 2023 | +22.3% | -21.8% |
| 2024 | -39.2% | +10.0% |
| 2025 | +129.2% | +43.0% |
| 2026 | -54.5% | +29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATEC and INCY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATEC and INCY?
As of 2026-08-27, the correlation of weekly returns between ATEC and INCY is 0.40 over 3 years, 0.24 over 1 year and 0.32 over 5 years.
Is INCY a good diversifier for ATEC?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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/atec-vs-incy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atec-vs-incy/)
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Related comparisons
Hubs: ATEC correlations · INCY correlations
