ASTC vs SPCE: Correlation
How closely do Astrotech Corporation (ASTC) and Virgin Galactic Holdings, Inc. (SPCE) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTC and SPCE?
Across a 3-year window, the weekly returns of ASTC and SPCE correlate at 0.54, moderate. The past 12 months show a tighter link (0.79) than the 3-year average (0.54). Stretching to 5 years gives 0.47, with an annualized covariance of 65567.5 %².
Among the 47 assets we track against ASTC, SPCE ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ASTC outperformed by 40.4 percentage points (+37.5% for ASTC against -2.9% for SPCE). Note the risk asymmetry: ASTC runs 12.0 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 SPCE: side by side
| ASTC (Astrotech Corporation) | SPCE (Virgin Galactic Holdings, Inc.) | |
|---|---|---|
| 1-year return | +37.5% | -2.9% |
| 5-year return | -78.4% | -99.4% |
| Volatility (ann.) | 1206.9% | 100.5% |
| Beta vs S&P 500 | 4.81 | 2.82 |
| Max drawdown (3Y) | -87.5% | -96.0% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTC | SPCE |
|---|---|---|
| 2022 | -51.0% | -74.0% |
| 2023 | -15.0% | -29.6% |
| 2024 | -20.8% | -88.0% |
| 2025 | -48.5% | -45.4% |
| 2026 | +105.8% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTC and SPCE good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASTC and SPCE?
The ASTC/SPCE correlation stands at 0.54 on a 3-year window (1 year: 0.79, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SPCE a good diversifier for ASTC?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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.
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Related comparisons
Hubs: ASTC correlations · SPCE correlations
