ASBP vs TG: Correlation
How closely do Aspire Biopharma Holdings, Inc. (ASBP) and Tredegar Corporation (TG) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASBP and TG?
Across a 3-year window, the weekly returns of ASBP and TG correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.29). Stretching to 5 years gives -0.24, with an annualized covariance of -23164.4 %².
Within ASBP's tracked universe of 70 assets, TG comes in at #52 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TG outperformed by 60.8 percentage points (-61.3% for ASBP against -0.5% for TG). Risk is not evenly split, since ASBP carries 35.9 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 TG: side by side
| ASBP (Aspire Biopharma Holdings, Inc.) | TG (Tredegar Corporation) | |
|---|---|---|
| 1-year return | -61.3% | -0.5% |
| 5-year return | -97.9% | -35.5% |
| Volatility (ann.) | 1699.4% | 47.3% |
| Beta vs S&P 500 | 0.59 | 1.03 |
| Max drawdown (3Y) | -100.0% | -33.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 8.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASBP | TG |
|---|---|---|
| 2022 | – | -9.6% |
| 2023 | +5.7% | -45.2% |
| 2024 | +5.6% | +42.0% |
| 2025 | -98.9% | -6.5% |
| 2026 | +56.4% | +6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASBP and TG good diversifiers for each other?
Yes. With a correlation of -0.29, ASBP and TG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASBP and TG?
As of 2026-08-27, the correlation of weekly returns between ASBP and TG is -0.29 over 3 years, -0.47 over 1 year and -0.24 over 5 years.
Is TG a good diversifier for ASBP?
Yes. With a correlation of -0.29, ASBP and TG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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: ASBP correlations · TG correlations
