ASTI vs HPK: Correlation
Measured on weekly returns over the past three years, Ascent Solar Technologies, Inc (ASTI) and HighPeak Energy, Inc. (HPK) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTI and HPK?
Over the past 3 years, ASTI and HPK moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.22). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -1732.5 %².
HPK is close to the least connected end of ASTI's tracked universe, ranking #8 of 10. The last year tells two different stories: ASTI led by 40.9 percentage points, +48.1% for ASTI against +7.2% for HPK. One caveat on sizing: ASTI is 2.5 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.
ASTI vs HPK: side by side
| ASTI (Ascent Solar Technologies, Inc) | HPK (HighPeak Energy, Inc.) | |
|---|---|---|
| 1-year return | +48.1% | +7.2% |
| 5-year return | n/a | -11.4% |
| Volatility (ann.) | 141.9% | 55.8% |
| Beta vs S&P 500 | 2.60 | 0.31 |
| Max drawdown (3Y) | -99.9% | -77.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTI | HPK |
|---|---|---|
| 2022 | – | +56.9% |
| 2023 | -99.7% | -37.4% |
| 2024 | -96.2% | +4.3% |
| 2025 | +25.7% | -67.2% |
| 2026 | -24.3% | +68.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTI and HPK good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASTI and HPK?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.42 over the last year and -0.17 over 5 years.
Is HPK a good diversifier for ASTI?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asti-vs-hpk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asti-vs-hpk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASTI correlations · HPK correlations
