ARDT vs JWEL: Correlation
Ardent Health, Inc. (ARDT) and Jowell Global Ltd. (JWEL) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and JWEL?
On 3 years of weekly data the ARDT/JWEL correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). The 5-year figure is n/a, and annualized covariance runs at -1202.7 %².
Within ARDT's tracked universe of 22 assets, JWEL comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JWEL ahead by 35.1 points (-13.5% versus +21.6%). Risk is not evenly split, since JWEL carries 2.5 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.
ARDT vs JWEL: side by side
| ARDT (Ardent Health, Inc.) | JWEL (Jowell Global Ltd.) | |
|---|---|---|
| 1-year return | -13.5% | +21.6% |
| 5-year return | n/a | -97.2% |
| Volatility (ann.) | 48.5% | 122.5% |
| Beta vs S&P 500 | 0.65 | 1.34 |
| Max drawdown (3Y) | -61.2% | -81.0% |
| Market cap | $1.6B | – |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | JWEL |
|---|---|---|
| 2022 | – | -98.1% |
| 2023 | – | -67.8% |
| 2024 | – | +44.9% |
| 2025 | -48.3% | -25.8% |
| 2026 | +24.5% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and JWEL good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARDT and JWEL?
The ARDT/JWEL correlation stands at -0.22 on a 3-year window (1 year: -0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is JWEL a good diversifier for ARDT?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ardt-vs-jwel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ardt-vs-jwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARDT correlations · JWEL correlations
