AESI vs SPY: Correlation
Measured on weekly returns over the past three years, Atlas Energy Solutions Inc. (AESI) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AESI and SPY?
Over the past 3 years, AESI and SPY moved with a correlation of 0.28, which is weak. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.28). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 212.3 %².
Among the 12 assets we track against AESI, SPY sits near the bottom by co-movement, at rank #8. The trailing year gives SPY the advantage: +11.1% versus +20.6%, a 9.5-point spread. Risk is not evenly split, since AESI carries 3.6 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.
AESI vs SPY: side by side
| AESI (Atlas Energy Solutions Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +11.1% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 52.7% | 14.5% |
| Beta vs S&P 500 | 1.02 | 1.00 |
| Max drawdown (3Y) | -65.9% | -18.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.07% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | AESI | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +34.6% | +24.9% |
| 2025 | -55.3% | +17.7% |
| 2026 | +38.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AESI and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AESI and SPY?
The AESI/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.05, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AESI?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AESI correlations · SPY correlations
