ACT vs ARTL: Correlation
Enact Holdings, Inc. (ACT) and Artelo Biosciences, Inc. (ARTL) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACT and ARTL?
Over the past 3 years, ACT and ARTL moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -630.5 %².
ARTL is close to the least connected end of ACT's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months ACT outperformed by 128.9 percentage points (+31.3% for ACT against -97.6% for ARTL). Note the risk asymmetry: ARTL runs 6.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ACT vs ARTL: side by side
| ACT (Enact Holdings, Inc.) | ARTL (Artelo Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +31.3% | -97.6% |
| 5-year return | +200.2% | -99.7% |
| Volatility (ann.) | 19.7% | 136.9% |
| Beta vs S&P 500 | 0.46 | -0.54 |
| Max drawdown (3Y) | -15.3% | -99.2% |
| Market cap | $6.7B | – |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 1.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACT | ARTL |
|---|---|---|
| 2022 | +24.1% | -62.9% |
| 2023 | +25.8% | -51.6% |
| 2024 | +14.7% | -24.3% |
| 2025 | +25.2% | -80.8% |
| 2026 | +25.6% | -81.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACT and ARTL good diversifiers for each other?
Yes. With a correlation of -0.23, ACT and ARTL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACT and ARTL?
As of 2026-08-27, the correlation of weekly returns between ACT and ARTL is -0.23 over 3 years, -0.21 over 1 year and -0.09 over 5 years.
Is ARTL a good diversifier for ACT?
Yes. With a correlation of -0.23, ACT and ARTL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/act-vs-artl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/act-vs-artl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACT correlations · ARTL correlations
