Align Technology Inc (ALGN) — Stock Correlations & Overview
Over the past year, ALGN has moved most closely with NVST, CAMX, KMID. Explore the stocks most correlated and inversely correlated with ALGN below, along with its price, financials, and company profile.
Stocks correlated with ALGN
Correlation of daily returns. Higher positive values move with ALGN; negative values move opposite it. Informational only, not investment advice.
Most correlated with ALGN
| Symbol | Company | Correlation |
|---|---|---|
| NVST | Envista Holdings Corporation Common stock, $0.01 par value per shareDENTAL EQUIPMENT & SUPPLIES | 0.70 |
| CAMX | Cambiar Aggressive Value ETF | 0.67 |
| KMID | Virtus KAR Mid-Cap ETF | 0.64 |
| MDEV | First Trust Indxx Medical Devices ETF | 0.63 |
| MOAT | VanEck Morningstar Wide Moat ETF | 0.63 |
Frequently asked questions about ALGN correlations
- Which stocks are most correlated with ALGN?
- Based on one year of daily returns, the stocks most correlated with Align Technology Inc (ALGN) are NVST (0.70), CAMX (0.67) and KMID (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ALGN?
- Over the past year, the stocks most inversely correlated with Align Technology Inc (ALGN) are FLYD (-0.58), HDGE (-0.57) and SBB (-0.56). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ALGN correlations calculated?
- We compute the correlation of daily returns between ALGN and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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