ARQT vs CVSA: Correlation
Arcutis Biotherapeutics, Inc. (ARQT) and Covista Inc. (CVSA) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARQT and CVSA?
On 3 years of weekly data the ARQT/CVSA correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.19 over 3 years. The 5-year figure is -0.09, and annualized covariance runs at -735.2 %².
Among the 10 assets we track against ARQT, CVSA sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months ARQT outperformed by 54.4 percentage points (+58.9% for ARQT against +4.5% for CVSA). One caveat on sizing: ARQT is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ARQT vs CVSA: side by side
| ARQT (Arcutis Biotherapeutics, Inc.) | CVSA (Covista Inc.) | |
|---|---|---|
| 1-year return | +58.9% | +4.5% |
| 5-year return | +18.0% | +282.8% |
| Volatility (ann.) | 81.9% | 46.4% |
| Beta vs S&P 500 | 1.10 | 0.67 |
| Max drawdown (3Y) | -79.5% | -42.1% |
| Market cap | $3.1B | $4.8B |
| P/E (trailing) | 113.0 | 18.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARQT | CVSA |
|---|---|---|
| 2022 | -28.6% | +20.1% |
| 2023 | -78.2% | +66.1% |
| 2024 | +331.3% | +54.1% |
| 2025 | +108.5% | +13.9% |
| 2026 | -14.4% | +36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARQT and CVSA good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARQT and CVSA?
As of 2026-08-27, the correlation of weekly returns between ARQT and CVSA is -0.19 over 3 years, -0.46 over 1 year and -0.09 over 5 years.
Is CVSA a good diversifier for ARQT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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/arqt-vs-cvsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arqt-vs-cvsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARQT correlations · CVSA correlations
