ASTC vs ATMP: Correlation
How closely do Astrotech Corporation (ASTC) and iPath Select MLP ETN (ATMP) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTC and ATMP?
Over the past 3 years, ASTC and ATMP moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.44) runs below the 3-year figure (-0.25). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -5134.8 %².
Among the 47 assets we track against ASTC, ATMP ranks #34 by 3-year correlation. Their 12-month results are close: +37.5% for ASTC against +34.4% for ATMP. Note the risk asymmetry: ASTC runs 71.0 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.
ASTC vs ATMP: side by side
| ASTC (Astrotech Corporation) | ATMP (iPath Select MLP ETN) | |
|---|---|---|
| 1-year return | +37.5% | +34.4% |
| 5-year return | -78.4% | +216.1% |
| Volatility (ann.) | 1206.9% | 17.0% |
| Beta vs S&P 500 | 4.81 | 0.28 |
| Max drawdown (3Y) | -87.5% | -15.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTC | ATMP |
|---|---|---|
| 2022 | -51.0% | +27.5% |
| 2023 | -15.0% | +21.6% |
| 2024 | -20.8% | +38.7% |
| 2025 | -48.5% | +7.0% |
| 2026 | +105.8% | +32.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTC and ATMP good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASTC and ATMP?
As of 2026-08-27, the correlation of weekly returns between ASTC and ATMP is -0.25 over 3 years, -0.44 over 1 year and -0.15 over 5 years.
Is ATMP a good diversifier for ASTC?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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: ASTC correlations · ATMP correlations
