ATEC vs RDWR: Correlation
Measured on weekly returns over the past three years, Alphatec Holdings, Inc. (ATEC) and Radware Ltd. (RDWR) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATEC and RDWR?
Across a 3-year window, the weekly returns of ATEC and RDWR correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.13) sits close to the 3-year figure. Stretching to 5 years gives -0.02, with an annualized covariance of -603.4 %².
RDWR is close to the least connected end of ATEC's tracked universe, ranking #9 of 11. Correlation aside, the last 12 months split them widely, with RDWR ahead by 55.8 points (-40.9% versus +14.9%). Risk is not evenly split, since ATEC carries 1.9 times the volatility of the other side.
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 RDWR: side by side
| ATEC (Alphatec Holdings, Inc.) | RDWR (Radware Ltd.) | |
|---|---|---|
| 1-year return | -40.9% | +14.9% |
| 5-year return | -29.0% | -13.5% |
| Volatility (ann.) | 71.5% | 36.7% |
| Beta vs S&P 500 | 0.88 | 0.85 |
| Max drawdown (3Y) | -70.3% | -29.4% |
| Market cap | $1.5B | $1.2B |
| P/E (trailing) | – | 75.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATEC | RDWR |
|---|---|---|
| 2022 | +8.0% | -52.6% |
| 2023 | +22.3% | -15.5% |
| 2024 | -39.2% | +35.1% |
| 2025 | +129.2% | +6.9% |
| 2026 | -54.5% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATEC and RDWR good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ATEC and RDWR?
As of 2026-08-27, the correlation of weekly returns between ATEC and RDWR is -0.23 over 3 years, -0.13 over 1 year and -0.02 over 5 years.
Is RDWR a good diversifier for ATEC?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atec-vs-rdwr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atec-vs-rdwr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATEC correlations · RDWR correlations
