ASTC vs IMO: Correlation
Measured on weekly returns over the past three years, Astrotech Corporation (ASTC) and Imperial Oil Limited (IMO) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTC and IMO?
Across a 3-year window, the weekly returns of ASTC and IMO correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.23 over 3 years. Stretching to 5 years gives -0.15, with an annualized covariance of -7829.5 %².
Within ASTC's tracked universe of 47 assets, IMO comes in at #30 by 3-year correlation. On 12-month performance IMO holds a 12.9-point edge, +37.5% against +50.4%. One caveat on sizing: ASTC is 41.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 IMO: side by side
| ASTC (Astrotech Corporation) | IMO (Imperial Oil Limited) | |
|---|---|---|
| 1-year return | +37.5% | +50.4% |
| 5-year return | -78.4% | +468.0% |
| Volatility (ann.) | 1206.9% | 28.8% |
| Beta vs S&P 500 | 4.81 | 0.24 |
| Max drawdown (3Y) | -87.5% | -22.9% |
| Market cap | – | – |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 2.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTC | IMO |
|---|---|---|
| 2022 | -51.0% | +38.0% |
| 2023 | -15.0% | +20.6% |
| 2024 | -20.8% | +10.5% |
| 2025 | -48.5% | +43.8% |
| 2026 | +105.8% | +54.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTC and IMO good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASTC and IMO?
The ASTC/IMO correlation stands at -0.23 on a 3-year window (1 year: -0.37, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is IMO a good diversifier for ASTC?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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 · IMO correlations
