AMS vs ASBP: Correlation
How closely do American Shared Hospital Services (AMS) and Aspire Biopharma Holdings, Inc. (ASBP) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMS and ASBP?
Across a 3-year window, the weekly returns of AMS and ASBP correlate at -0.35, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.42) sits close to the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -27424.9 %².
Among the 11 assets we track against AMS, ASBP sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with AMS ahead by 20.6 points (-40.7% versus -61.3%). Note the risk asymmetry: ASBP runs 36.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMS vs ASBP: side by side
| AMS (American Shared Hospital Services) | ASBP (Aspire Biopharma Holdings, Inc.) | |
|---|---|---|
| 1-year return | -40.7% | -61.3% |
| 5-year return | -45.7% | -97.9% |
| Volatility (ann.) | 46.6% | 1699.4% |
| Beta vs S&P 500 | 0.34 | 0.59 |
| Max drawdown (3Y) | -64.2% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMS | ASBP |
|---|---|---|
| 2022 | +23.6% | – |
| 2023 | -18.8% | +5.7% |
| 2024 | +34.0% | +5.6% |
| 2025 | -33.9% | -98.9% |
| 2026 | -30.8% | +56.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMS and ASBP good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMS and ASBP?
As of 2026-08-27, the correlation of weekly returns between AMS and ASBP is -0.35 over 3 years, -0.42 over 1 year and -0.32 over 5 years.
Is ASBP a good diversifier for AMS?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: AMS correlations · ASBP correlations
