ASTC vs MDT: Correlation
Measured on weekly returns over the past three years, Astrotech Corporation (ASTC) and Medtronic (MDT) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTC and MDT?
Over the past 3 years, ASTC and MDT moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -4346.6 %².
Within ASTC's tracked universe of 47 assets, MDT comes in at #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ASTC outperformed by 36.6 percentage points (+37.5% for ASTC against +0.9% for MDT). One caveat on sizing: ASTC is 57.5 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 MDT: side by side
| ASTC (Astrotech Corporation) | MDT (Medtronic) | |
|---|---|---|
| 1-year return | +37.5% | +0.9% |
| 5-year return | -78.4% | -21.4% |
| Volatility (ann.) | 1206.9% | 21.0% |
| Beta vs S&P 500 | 4.81 | 0.37 |
| Max drawdown (3Y) | -87.5% | -28.9% |
| Market cap | – | $115.2B |
| P/E (trailing) | – | 24.1 |
| Dividend yield | 0.00% | 3.09% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ASTC | MDT |
|---|---|---|
| 2022 | -51.0% | -22.6% |
| 2023 | -15.0% | +9.6% |
| 2024 | -20.8% | +0.3% |
| 2025 | -48.5% | +24.0% |
| 2026 | +105.8% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTC and MDT good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ASTC and MDT?
The ASTC/MDT correlation stands at -0.17 on a 3-year window (1 year: -0.27, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is MDT a good diversifier for ASTC?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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/astc-vs-mdt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/astc-vs-mdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASTC correlations · MDT correlations
