ARGX vs. ALGN

Last updated Jun 3, 2026

ARGX (argenx SE) and ALGN (Align Technology, Inc.) are both stocks. Both are in the Healthcare sector — ARGX in Biotechnology, ALGN in Medical Devices. Over the past 5 years, ARGX returned 24.67%/yr vs -21.72%/yr for ALGN. At a 0.22 correlation, their price movements are largely independent.

Performance

ARGX vs. ALGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in argenx SE (ARGX) and Align Technology, Inc. (ALGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARGX achieves a -4.61% return, which is significantly lower than ALGN's 6.75% return.

ARGX

• 1D: -4.06%
• 1M: 2.38%
• YTD: -4.61%
• 6M: -12.37%
• 1Y: 37.22%
• 3Y*: 26.55%
• 5Y*: 24.67%
• 10Y*: —

ALGN

• 1D: -1.81%
• 1M: -6.83%
• YTD: 6.75%
• 6M: 10.44%
• 1Y: -6.62%
• 3Y*: -17.97%
• 5Y*: -21.72%
• 10Y*: 7.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARGX vs. ALGN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARGX argenx SE	-4.61%	36.74%	61.66%	0.42%	8.18%	19.08%	83.21%	67.09%	52.15%	174.52%
ALGN Align Technology, Inc.	6.75%	-25.11%	-23.90%	29.92%	-67.91%	22.98%	91.51%	33.24%	-5.74%	61.37%

Correlation

The correlation between ARGX and ALGN is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since May 19, 2017	0.22

The correlation between ARGX and ALGN shifts across timeframes, from 0.10 (3 years) to 0.22 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ARGX : $53.10B ALGN : $11.94B
EPS ARGX : $32.69 ALGN : $5.96
PE Ratio ARGX : 24.54 ALGN : 27.96
PS Ratio ARGX : 9.63 ALGN : 2.93
PB Ratio ARGX : 7.25 ALGN : 2.88
Total Revenue (TTM) ARGX : $5.49B ALGN : $4.10B
Gross Profit (TTM) ARGX : $4.38B ALGN : $2.77B
EBITDA (TTM) ARGX : $1.50B ALGN : $776.15M

Return for Risk

ARGX vs. ALGN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARGX

ARGX Risk / Return Rank: 72
ARGX Sharpe Ratio Rank: 77
ARGX Sortino Ratio Rank: 74
ARGX Omega Ratio Rank: 71
ARGX Calmar Ratio Rank: 67
ARGX Martin Ratio Rank: 70

ALGN

ALGN Risk / Return Rank: 35
ALGN Sharpe Ratio Rank: 35
ALGN Sortino Ratio Rank: 34
ALGN Omega Ratio Rank: 36
ALGN Calmar Ratio Rank: 34
ALGN Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARGX vs. ALGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for argenx SE (ARGX) and Align Technology, Inc. (ALGN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARGX	ALGN	Difference
Sharpe ratio Return per unit of total volatility	1.26	-0.13	+1.38
Sortino ratio Return per unit of downside risk	1.95	0.21	+1.74
Omega ratio Gain probability vs. loss probability	1.24	1.04	+0.20
Calmar ratio Return relative to maximum drawdown	1.40	-0.20	+1.60
Martin ratio Return relative to average drawdown	3.72	-0.33	+4.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARGX vs. ALGN - Sharpe Ratio Comparison

The current ARGX Sharpe Ratio is 1.26, which is higher than the ALGN Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of ARGX and ALGN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARGX	ALGN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	-0.13	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	-0.44	+1.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.16	+0.79

Drawdowns

ARGX vs. ALGN - Drawdown Comparison

The maximum ARGX drawdown since its inception was -38.20%, smaller than the maximum ALGN drawdown of -92.30%. Use the drawdown chart below to compare losses from any high point for ARGX and ALGN.

Drawdown Indicators

	ARGX	ALGN	Difference
Max Drawdown Largest peak-to-trough decline	-38.20%	-92.30%	+54.10%
Max Drawdown (1Y) Largest decline over 1 year	-28.58%	-39.73%	+11.15%
Max Drawdown (3Y) Largest decline over 3 years	-38.20%	-67.59%	+29.39%
Max Drawdown (5Y) Largest decline over 5 years	-38.20%	-82.89%	+44.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-82.89%	—
Current Drawdown Current decline from peak	-13.71%	-77.16%	+63.45%
Average Drawdown Average peak-to-trough decline	-11.10%	-37.63%	+26.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.72%	23.77%	-13.05%

Volatility

ARGX vs. ALGN - Volatility Comparison

The current volatility for argenx SE (ARGX) is 10.26%, while Align Technology, Inc. (ALGN) has a volatility of 12.10%. This indicates that ARGX experiences smaller price fluctuations and is considered to be less risky than ALGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARGX	ALGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.26%	12.10%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	21.05%	28.19%	-7.14%
Volatility (1Y) Calculated over the trailing 1-year period	29.80%	52.42%	-22.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.73%	49.52%	-10.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.68%	49.03%	+1.65%

Dividends

ARGX vs. ALGN - Dividend Comparison

Neither ARGX nor ALGN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

ARGX vs. ALGN - Profitability Comparison

The chart below illustrates the profitability comparison between argenx SE and Align Technology, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ARGX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, argenx SE reported a gross profit of 2.15B and revenue of 2.41B. Therefore, the gross margin over that period was 89.3%.

ALGN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Align Technology, Inc. reported a gross profit of 736.59M and revenue of 1.04B. Therefore, the gross margin over that period was 70.8%.

ARGX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, argenx SE reported an operating income of 658.56M and revenue of 2.41B, resulting in an operating margin of 27.4%.

ALGN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Align Technology, Inc. reported an operating income of 141.96M and revenue of 1.04B, resulting in an operating margin of 13.7%.

ARGX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, argenx SE reported a net income of 874.92M and revenue of 2.41B, resulting in a net margin of 36.4%.

ALGN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Align Technology, Inc. reported a net income of 112.77M and revenue of 1.04B, resulting in a net margin of 10.8%.

Frequently Asked Questions

Can I hold both ARGX and ALGN in my portfolio?

ARGX and ALGN have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARGX or ALGN?

ALGN has higher volatility (12.10%) compared to ARGX (10.26%). In terms of maximum drawdown, ARGX dropped -38.20% vs ALGN's -92.30%.

Which has better risk-adjusted returns?

ARGX currently has the higher Sharpe Ratio (1.26 vs -0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.