ASPN vs. THC

Last updated Apr 1, 2026

Compare and contrast key facts about Aspen Aerogels, Inc. (ASPN) and Tenet Healthcare Corporation (THC).

Performance

ASPN vs. THC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aspen Aerogels, Inc. (ASPN) and Tenet Healthcare Corporation (THC). The values are adjusted to include any dividend payments, if applicable.

ASPN vs. THC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASPN Aspen Aerogels, Inc.	20.85%	-76.18%	-24.71%	33.84%	-76.32%	198.32%	115.08%	264.32%	-56.35%	18.16%
THC Tenet Healthcare Corporation	-5.04%	57.43%	67.04%	54.89%	-40.27%	104.58%	5.00%	121.88%	13.06%	2.16%

Fundamentals

Market Cap ASPN : $282.70M THC : $16.59B
EPS ASPN : -$4.73 THC : $15.73
PS Ratio ASPN : 1.04 THC : 0.79
PB Ratio ASPN : 1.20 THC : 3.93
Total Revenue (TTM) ASPN : $271.10M THC : $21.31B
Gross Profit (TTM) ASPN : $46.00M THC : $11.91B
EBITDA (TTM) ASPN : -$331.29M THC : $4.47B

Returns By Period

In the year-to-date period, ASPN achieves a 20.85% return, which is significantly higher than THC's -5.04% return. Over the past 10 years, ASPN has underperformed THC with an annualized return of -2.49%, while THC has yielded a comparatively higher 20.64% annualized return.

ASPN

• 1D: 7.89%
• 1M: 9.62%
• YTD: 20.85%
• 6M: -50.86%
• 1Y: -46.48%
• 3Y*: -22.86%
• 5Y*: -30.30%
• 10Y*: -2.49%

THC

• 1D: 0.38%
• 1M: -21.17%
• YTD: -5.04%
• 6M: -7.06%
• 1Y: 40.30%
• 3Y*: 46.99%
• 5Y*: 29.81%
• 10Y*: 20.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ASPN vs. THC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASPN

ASPN Risk / Return Rank: 22
ASPN Sharpe Ratio Rank: 19
ASPN Sortino Ratio Rank: 26
ASPN Omega Ratio Rank: 25
ASPN Calmar Ratio Rank: 18
ASPN Martin Ratio Rank: 19

THC

THC Risk / Return Rank: 74
THC Sharpe Ratio Rank: 74
THC Sortino Ratio Rank: 70
THC Omega Ratio Rank: 70
THC Calmar Ratio Rank: 76
THC Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASPN vs. THC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aspen Aerogels, Inc. (ASPN) and Tenet Healthcare Corporation (THC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASPN	THC	Difference
Sharpe ratio Return per unit of total volatility	-0.50	0.94	-1.44
Sortino ratio Return per unit of downside risk	-0.20	1.56	-1.77
Omega ratio Gain probability vs. loss probability	0.97	1.21	-0.24
Calmar ratio Return relative to maximum drawdown	-0.68	1.80	-2.48
Martin ratio Return relative to average drawdown	-1.19	5.43	-6.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASPN vs. THC - Sharpe Ratio Comparison

The current ASPN Sharpe Ratio is -0.50, which is lower than the THC Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of ASPN and THC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASPN	THC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	0.94	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	0.68	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	0.37	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.12	-0.25

Correlation

The correlation between ASPN and THC is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ASPN vs. THC - Dividend Comparison

Neither ASPN nor THC has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ASPN vs. THC - Drawdown Comparison

The maximum ASPN drawdown since its inception was -95.96%, roughly equal to the maximum THC drawdown of -98.28%. Use the drawdown chart below to compare losses from any high point for ASPN and THC.

Drawdown Indicators

	ASPN	THC	Difference
Max Drawdown Largest peak-to-trough decline	-95.96%	-98.28%	+2.32%
Max Drawdown (1Y) Largest decline over 1 year	-70.86%	-23.20%	-47.66%
Max Drawdown (5Y) Largest decline over 5 years	-95.96%	-58.88%	-37.08%
Max Drawdown (10Y) Largest decline over 10 years	-95.96%	-71.68%	-24.28%
Current Drawdown Current decline from peak	-94.63%	-22.91%	-71.72%
Average Drawdown Average peak-to-trough decline	-55.84%	-51.67%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.41%	7.69%	+32.72%

Volatility

ASPN vs. THC - Volatility Comparison

Aspen Aerogels, Inc. (ASPN) has a higher volatility of 19.65% compared to Tenet Healthcare Corporation (THC) at 9.59%. This indicates that ASPN's price experiences larger fluctuations and is considered to be riskier than THC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASPN	THC	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.65%	9.59%	+10.06%
Volatility (6M) Calculated over the trailing 6-month period	84.75%	28.64%	+56.11%
Volatility (1Y) Calculated over the trailing 1-year period	92.66%	43.18%	+49.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.71%	44.21%	+42.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.42%	56.33%	+18.09%

Financials