ASST vs REFR: Correlation
Measured on weekly returns over the past three years, Strive, Inc. (ASST) and Research Frontiers Incorporated (REFR) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASST and REFR?
Over the past 3 years, ASST and REFR moved with a correlation of 0.33, which is moderate. The link has loosened recently: the 1-year correlation (0.01) runs below the 3-year figure (0.33). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 16367.9 %².
By 3-year correlation, REFR places #10 of the 58 assets tracked against ASST. Correlation aside, the last 12 months split them widely, with REFR ahead by 15.0 points (-80.4% versus -65.4%). Note the risk asymmetry: ASST runs 10.6 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.
ASST vs REFR: side by side
| ASST (Strive, Inc.) | REFR (Research Frontiers Incorporated) | |
|---|---|---|
| 1-year return | -80.4% | -65.4% |
| 5-year return | n/a | -78.3% |
| Volatility (ann.) | 723.1% | 68.5% |
| Beta vs S&P 500 | -1.01 | 0.52 |
| Max drawdown (3Y) | -97.2% | -83.5% |
| Market cap | $2.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASST | REFR |
|---|---|---|
| 2022 | – | +11.0% |
| 2023 | – | -47.1% |
| 2024 | -84.6% | +69.3% |
| 2025 | +50.3% | -23.4% |
| 2026 | +56.6% | -63.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASST and REFR good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASST and REFR?
As of 2026-08-27, the correlation of weekly returns between ASST and REFR is 0.33 over 3 years, 0.01 over 1 year and n/a over 5 years.
Is REFR a good diversifier for ASST?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asst-vs-refr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asst-vs-refr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASST correlations · REFR correlations
