An embodiment of a system for estimating a parameter of an earth formation includes at least one formation parameter sensor disposed at a first downhole component and configured to measure a parameter of an earth formation to generate formation parameter data, and one or more processors in operable communication with the at least one formation parameter sensor. The one or more processors are configured to perform: generating a mechanics model of at least one of the first downhole component and a second downhole component, the mechanics model based on geometrical data representing at least one of the first downhole component and the second downhole component; estimating a misalignment of the at least one formation parameter sensor by using the mechanics model; and correcting the formation parameter data based on the misalignment.