ASTC vs QTEX: Correlation
Measured on weekly returns over the past three years, Astrotech Corporation (ASTC) and QTREX Quantum Ltd. (QTEX) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTC and QTEX?
Over the past 3 years, ASTC and QTEX moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.92 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 225631.4 %².
In ASTC's tracked universe of 47 assets, QTEX sits right near the top at #1. The last year tells two different stories: ASTC led by 64.7 percentage points, +37.5% for ASTC against -27.2% for QTEX. Risk is not evenly split, since ASTC carries 5.6 times the volatility of the other side.
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 QTEX: side by side
| ASTC (Astrotech Corporation) | QTEX (QTREX Quantum Ltd.) | |
|---|---|---|
| 1-year return | +37.5% | -27.2% |
| 5-year return | -78.4% | -75.2% |
| Volatility (ann.) | 1206.9% | 214.5% |
| Beta vs S&P 500 | 4.81 | 2.83 |
| Max drawdown (3Y) | -87.5% | -86.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTC | QTEX |
|---|---|---|
| 2022 | -51.0% | -69.0% |
| 2023 | -15.0% | -17.8% |
| 2024 | -20.8% | -3.8% |
| 2025 | -48.5% | -11.8% |
| 2026 | +105.8% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTC and QTEX good diversifiers for each other?
No. With a correlation of 0.87, ASTC and QTEX move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ASTC and QTEX?
As of 2026-08-27, the correlation of weekly returns between ASTC and QTEX is 0.87 over 3 years, 0.92 over 1 year and 0.80 over 5 years.
Is QTEX a good diversifier for ASTC?
No. With a correlation of 0.87, ASTC and QTEX move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 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.
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Related comparisons
Hubs: ASTC correlations · QTEX correlations
