ASTI vs SPY: Correlation
How closely do Ascent Solar Technologies, Inc (ASTI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTI and SPY?
Across a 3-year window, the weekly returns of ASTI and SPY correlate at 0.26, weak. Recent behaviour matches the longer record: 0.36 over 1 year against 0.26 over 3. Stretching to 5 years gives 0.28, with an annualized covariance of 543.4 %².
Among the 10 assets we track against ASTI, SPY sits near the bottom by co-movement, at rank #6. Correlation aside, the last 12 months split them widely, with ASTI ahead by 27.5 points (+48.1% versus +20.6%). Risk is not evenly split, since ASTI carries 9.8 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.
ASTI vs SPY: side by side
| ASTI (Ascent Solar Technologies, Inc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +48.1% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 141.9% | 14.5% |
| Beta vs S&P 500 | 2.60 | 1.00 |
| Max drawdown (3Y) | -99.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ASTI | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -99.7% | +26.2% |
| 2024 | -96.2% | +24.9% |
| 2025 | +25.7% | +17.7% |
| 2026 | -24.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTI and SPY good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASTI and SPY?
The ASTI/SPY correlation stands at 0.26 on a 3-year window (1 year: 0.36, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ASTI?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
A reading of 0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ASTI correlations · SPY correlations
