ASMB vs ATGL: Correlation
Assembly Biosciences, Inc. (ASMB) and Alpha Technology Group Limited - Class A (ATGL) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASMB and ATGL?
Across a 3-year window, the weekly returns of ASMB and ATGL correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.20). Stretching to 5 years gives n/a, with an annualized covariance of -2944.8 %².
ATGL is close to the least connected end of ASMB's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months ASMB outperformed by 110.4 percentage points (+34.4% for ASMB against -76.0% for ATGL). Note the risk asymmetry: ATGL runs 4.1 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.
ASMB vs ATGL: side by side
| ASMB (Assembly Biosciences, Inc.) | ATGL (Alpha Technology Group Limited - Class A) | |
|---|---|---|
| 1-year return | +34.4% | -76.0% |
| 5-year return | -21.2% | n/a |
| Volatility (ann.) | 61.8% | 253.1% |
| Beta vs S&P 500 | 1.09 | 0.71 |
| Max drawdown (3Y) | -57.5% | -95.9% |
| Market cap | $0.7B | $0.1B |
| P/E (trailing) | 28.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASMB | ATGL |
|---|---|---|
| 2022 | -44.2% | – |
| 2023 | -36.9% | – |
| 2024 | +60.4% | +11.3% |
| 2025 | +115.5% | +48.0% |
| 2026 | +2.3% | -65.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASMB and ATGL good diversifiers for each other?
Yes. With a correlation of -0.20, ASMB and ATGL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASMB and ATGL?
As of 2026-08-27, the correlation of weekly returns between ASMB and ATGL is -0.20 over 3 years, -0.05 over 1 year and n/a over 5 years.
Is ATGL a good diversifier for ASMB?
Yes. With a correlation of -0.20, ASMB and ATGL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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: ASMB correlations · ATGL correlations
