THC vs. ASPN

Last updated Apr 1, 2026

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

Performance

THC vs. ASPN - Performance Comparison

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

THC vs. ASPN - Yearly Performance Comparison

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

Fundamentals

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

Returns By Period

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

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%

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%

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

Return for Risk

THC vs. ASPN — Risk / Return Rank

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

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

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

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.

THC vs. ASPN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tenet Healthcare Corporation (THC) and Aspen Aerogels, Inc. (ASPN). 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.

	THC	ASPN	Difference
Sharpe ratio Return per unit of total volatility	0.94	-0.50	+1.44
Sortino ratio Return per unit of downside risk	1.56	-0.20	+1.77
Omega ratio Gain probability vs. loss probability	1.21	0.97	+0.24
Calmar ratio Return relative to maximum drawdown	1.80	-0.68	+2.48
Martin ratio Return relative to average drawdown	5.43	-1.19	+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.

THC vs. ASPN - Sharpe Ratio Comparison

The current THC Sharpe Ratio is 0.94, which is higher than the ASPN Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of THC and ASPN, 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

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

Correlation

The correlation between THC and ASPN 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

THC vs. ASPN - Dividend Comparison

Neither THC nor ASPN has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

THC vs. ASPN - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

THC vs. ASPN - Volatility Comparison

The current volatility for Tenet Healthcare Corporation (THC) is 9.59%, while Aspen Aerogels, Inc. (ASPN) has a volatility of 19.65%. This indicates that THC experiences smaller price fluctuations and is considered to be less risky than ASPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Financials