ASPI vs DNN: Correlation
ASP Isotopes Inc. (ASPI) and Denison Mines Corp (DNN) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASPI and DNN?
Over the past 3 years, ASPI and DNN moved with a correlation of 0.45, which is moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 2585.1 %².
In ASPI's tracked universe of 11 assets, DNN sits right near the top at #3. Correlation aside, the last 12 months split them widely, with DNN ahead by 129.0 points (-59.9% versus +69.1%). Note the risk asymmetry: ASPI runs 1.9 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.
ASPI vs DNN: side by side
| ASPI (ASP Isotopes Inc.) | DNN (Denison Mines Corp) | |
|---|---|---|
| 1-year return | -59.9% | +69.1% |
| 5-year return | n/a | +211.0% |
| Volatility (ann.) | 103.1% | 55.6% |
| Beta vs S&P 500 | 2.30 | 1.35 |
| Max drawdown (3Y) | -74.8% | -52.5% |
| Market cap | $0.6B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASPI | DNN |
|---|---|---|
| 2022 | – | -16.1% |
| 2023 | +13.3% | +53.9% |
| 2024 | +153.1% | +1.7% |
| 2025 | +18.1% | +47.8% |
| 2026 | -24.5% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASPI and DNN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASPI and DNN?
As of 2026-08-27, the correlation of weekly returns between ASPI and DNN is 0.45 over 3 years, 0.53 over 1 year and 0.38 over 5 years.
Is DNN a good diversifier for ASPI?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
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Related comparisons
Hubs: ASPI correlations · DNN correlations
