ARBE vs SHPH: Correlation
How closely do Arbe Robotics Ltd. (ARBE) and Shuttle Pharmaceuticals Holdings, Inc. (SHPH) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARBE and SHPH?
Across a 3-year window, the weekly returns of ARBE and SHPH correlate at 0.39, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.39). Stretching to 5 years gives 0.24, with an annualized covariance of 3440.4 %².
By 3-year correlation, SHPH places #9 of the 14 assets tracked against ARBE. Their recent paths diverged sharply: over the last 12 months ARBE outperformed by 36.3 percentage points (-52.1% for ARBE against -88.4% for SHPH).
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.
ARBE vs SHPH: side by side
| ARBE (Arbe Robotics Ltd.) | SHPH (Shuttle Pharmaceuticals Holdings, Inc.) | |
|---|---|---|
| 1-year return | -52.1% | -88.4% |
| 5-year return | -93.4% | n/a |
| Volatility (ann.) | 87.7% | 99.7% |
| Beta vs S&P 500 | 2.41 | 0.99 |
| Max drawdown (3Y) | -86.1% | -99.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 35.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARBE | SHPH |
|---|---|---|
| 2022 | -63.3% | – |
| 2023 | -36.1% | -76.8% |
| 2024 | -14.7% | -76.4% |
| 2025 | -36.6% | -91.6% |
| 2026 | -43.6% | -78.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARBE and SHPH good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARBE and SHPH?
The ARBE/SHPH correlation stands at 0.39 on a 3-year window (1 year: 0.52, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SHPH a good diversifier for ARBE?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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: ARBE correlations · SHPH correlations
