ASTS vs SPY: Correlation
How closely do AST SpaceMobile, Inc. (ASTS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTS and SPY?
Over the past 3 years, ASTS and SPY moved with a correlation of 0.23, which is weak. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 400.4 %².
Out of 11 assets tracked against ASTS, SPY lands near the bottom at #7. On 12-month performance ASTS holds a 6.7-point edge, +27.3% against +20.6%. Risk is not evenly split, since ASTS carries 8.2 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.
ASTS vs SPY: side by side
| ASTS (AST SpaceMobile, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.3% | +20.6% |
| 5-year return | +397.1% | +82.4% |
| Volatility (ann.) | 119.4% | 14.5% |
| Beta vs S&P 500 | 1.92 | 1.00 |
| Max drawdown (3Y) | -68.4% | -18.8% |
| Market cap | $23.9B | – |
| 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 | ASTS | SPY |
|---|---|---|
| 2022 | -39.3% | -18.2% |
| 2023 | +25.1% | +26.2% |
| 2024 | +249.9% | +24.9% |
| 2025 | +244.2% | +17.7% |
| 2026 | -15.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTS and SPY good diversifiers for each other?
Reasonably. At 0.23, ASTS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASTS and SPY?
As of 2026-08-27, the correlation of weekly returns between ASTS and SPY is 0.23 over 3 years, 0.27 over 1 year and 0.27 over 5 years.
Is SPY a good diversifier for ASTS?
Reasonably. At 0.23, ASTS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 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: ASTS correlations · SPY correlations
