ASBP vs SBAC: Correlation
How closely do Aspire Biopharma Holdings, Inc. (ASBP) and SBA Communications (SBAC) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASBP and SBAC?
On 3 years of weekly data the ASBP/SBAC correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -8542.3 %².
Within ASBP's tracked universe of 70 assets, SBAC comes in at #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SBAC outperformed by 53.4 percentage points (-61.3% for ASBP against -7.9% for SBAC). One caveat on sizing: ASBP is 56.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SBAC: side by side
| ASBP (Aspire Biopharma Holdings, Inc.) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | -61.3% | -7.9% |
| 5-year return | -97.9% | -43.3% |
| Volatility (ann.) | 1699.4% | 30.1% |
| Beta vs S&P 500 | 0.59 | 0.42 |
| Max drawdown (3Y) | -100.0% | -32.2% |
| Market cap | – | $19.8B |
| P/E (trailing) | – | 20.0 |
| Dividend yield | 0.00% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | ASBP | SBAC |
|---|---|---|
| 2022 | – | -27.3% |
| 2023 | +5.7% | -8.2% |
| 2024 | +5.6% | -18.2% |
| 2025 | -98.9% | -3.1% |
| 2026 | +56.4% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASBP and SBAC good diversifiers for each other?
Yes. With a correlation of -0.17, ASBP and SBAC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASBP and SBAC?
As of 2026-08-27, the correlation of weekly returns between ASBP and SBAC is -0.17 over 3 years, -0.24 over 1 year and -0.13 over 5 years.
Is SBAC a good diversifier for ASBP?
Yes. With a correlation of -0.17, ASBP and SBAC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 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.
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Related comparisons
Hubs: ASBP correlations · SBAC correlations
