ASTC vs OTLK: Correlation
Astrotech Corporation (ASTC) and Outlook Therapeutics, Inc. (OTLK) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTC and OTLK?
Over the past 3 years, ASTC and OTLK moved with a correlation of 0.54, which is moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.54). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 92975.0 %².
Few assets follow ASTC as closely as OTLK, which ranks #3 of 47 tracked partners. Correlation aside, the last 12 months split them widely, with ASTC ahead by 110.5 points (+37.5% versus -73.0%). One caveat on sizing: ASTC is 8.4 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 OTLK: side by side
| ASTC (Astrotech Corporation) | OTLK (Outlook Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +37.5% | -73.0% |
| 5-year return | -78.4% | -98.8% |
| Volatility (ann.) | 1206.9% | 143.2% |
| Beta vs S&P 500 | 4.81 | 0.95 |
| Max drawdown (3Y) | -87.5% | -99.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTC | OTLK |
|---|---|---|
| 2022 | -51.0% | -20.6% |
| 2023 | -15.0% | -63.5% |
| 2024 | -20.8% | -76.0% |
| 2025 | -48.5% | -16.4% |
| 2026 | +105.8% | -59.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTC and OTLK good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASTC and OTLK?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.69 over the last year and 0.49 over 5 years.
Is OTLK a good diversifier for ASTC?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/astc-vs-otlk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/astc-vs-otlk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASTC correlations · OTLK correlations
