ASPN vs MTC: Correlation
How closely do Aspen Aerogels, Inc. (ASPN) and MMTec, Inc. (MTC) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASPN and MTC?
Over the past 3 years, ASPN and MTC moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.59) runs below the 3-year figure (-0.30). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -6827.3 %².
Among the 14 assets we track against ASPN, MTC sits near the bottom by co-movement, at rank #12. The last year tells two different stories: MTC led by 327.6 percentage points, -25.5% for ASPN against +302.1% for MTC. Risk is not evenly split, since MTC carries 3.0 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.
ASPN vs MTC: side by side
| ASPN (Aspen Aerogels, Inc.) | MTC (MMTec, Inc.) | |
|---|---|---|
| 1-year return | -25.5% | +302.1% |
| 5-year return | -88.1% | -96.8% |
| Volatility (ann.) | 88.3% | 261.2% |
| Beta vs S&P 500 | 2.05 | 0.26 |
| Max drawdown (3Y) | -91.9% | -99.6% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | – | 5.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASPN | MTC |
|---|---|---|
| 2022 | -76.3% | -88.3% |
| 2023 | +33.8% | +29.0% |
| 2024 | -24.7% | -80.4% |
| 2025 | -76.2% | +117.8% |
| 2026 | +84.8% | +11.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASPN and MTC good diversifiers for each other?
Yes. With a correlation of -0.30, ASPN and MTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASPN and MTC?
The ASPN/MTC correlation stands at -0.30 on a 3-year window (1 year: -0.59, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is MTC a good diversifier for ASPN?
Yes. With a correlation of -0.30, ASPN and MTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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/aspn-vs-mtc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aspn-vs-mtc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASPN correlations · MTC correlations
