ASBP vs HCWB: Correlation
Measured on weekly returns over the past three years, Aspire Biopharma Holdings, Inc. (ASBP) and HCW Biologics Inc. (HCWB) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASBP and HCWB?
Across a 3-year window, the weekly returns of ASBP and HCWB correlate at 0.65, strong. Lately the two have moved closer together, with the 1-year correlation at 0.79 versus 0.65 over 3 years. Stretching to 5 years gives 0.64, with an annualized covariance of 263636.0 %².
In ASBP's tracked universe of 70 assets, HCWB sits right near the top at #3. The last year tells two different stories: ASBP led by 29.9 percentage points, -61.3% for ASBP against -91.2% for HCWB. Risk is not evenly split, since ASBP carries 7.1 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.
ASBP vs HCWB: side by side
| ASBP (Aspire Biopharma Holdings, Inc.) | HCWB (HCW Biologics Inc.) | |
|---|---|---|
| 1-year return | -61.3% | -91.2% |
| 5-year return | -97.9% | -99.7% |
| Volatility (ann.) | 1699.4% | 238.8% |
| Beta vs S&P 500 | 0.59 | 1.21 |
| Max drawdown (3Y) | -100.0% | -99.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASBP | HCWB |
|---|---|---|
| 2022 | – | -17.5% |
| 2023 | +5.7% | -36.0% |
| 2024 | +5.6% | -63.6% |
| 2025 | -98.9% | -94.6% |
| 2026 | +56.4% | -45.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASBP and HCWB good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASBP and HCWB?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.79 over the last year and 0.64 over 5 years.
Is HCWB a good diversifier for ASBP?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asbp-vs-hcwb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asbp-vs-hcwb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASBP correlations · HCWB correlations
