AMSC vs ASPN: Correlation
Measured on weekly returns over the past three years, American Superconductor Corporation (AMSC) and Aspen Aerogels, Inc. (ASPN) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSC and ASPN?
Across a 3-year window, the weekly returns of AMSC and ASPN correlate at 0.43, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.43 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 3002.4 %².
Among the 13 assets we track against AMSC, ASPN ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ASPN ahead by 17.2 points (-42.7% versus -25.5%).
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.
AMSC vs ASPN: side by side
| AMSC (American Superconductor Corporation) | ASPN (Aspen Aerogels, Inc.) | |
|---|---|---|
| 1-year return | -42.7% | -25.5% |
| 5-year return | +141.8% | -88.1% |
| Volatility (ann.) | 78.4% | 88.3% |
| Beta vs S&P 500 | 2.16 | 2.05 |
| Max drawdown (3Y) | -61.1% | -91.9% |
| Market cap | $1.4B | $0.4B |
| P/E (trailing) | 9.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSC | ASPN |
|---|---|---|
| 2022 | -66.2% | -76.3% |
| 2023 | +202.7% | +33.8% |
| 2024 | +121.1% | -24.7% |
| 2025 | +16.8% | -76.2% |
| 2026 | +3.7% | +84.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSC and ASPN good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AMSC and ASPN?
The AMSC/ASPN correlation stands at 0.43 on a 3-year window (1 year: 0.58, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is ASPN a good diversifier for AMSC?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amsc-vs-aspn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amsc-vs-aspn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMSC correlations · ASPN correlations
