ARTL vs CLDI: Correlation
Measured on weekly returns over the past three years, Artelo Biosciences, Inc. (ARTL) and Calidi Biotherapeutics, Inc. (CLDI) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTL and CLDI?
On 3 years of weekly data the ARTL/CLDI correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.04 versus 0.46 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 11622.1 %².
By 3-year correlation, CLDI places #5 of the 21 assets tracked against ARTL. Twelve-month performance is nearly a tie, at -97.6% for ARTL and -95.1% for CLDI.
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.
ARTL vs CLDI: side by side
| ARTL (Artelo Biosciences, Inc.) | CLDI (Calidi Biotherapeutics, Inc.) | |
|---|---|---|
| 1-year return | -97.6% | -95.1% |
| 5-year return | -99.7% | -100.0% |
| Volatility (ann.) | 136.9% | 182.9% |
| Beta vs S&P 500 | -0.54 | 1.03 |
| Max drawdown (3Y) | -99.2% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTL | CLDI |
|---|---|---|
| 2022 | -62.9% | +3.7% |
| 2023 | -51.6% | -85.2% |
| 2024 | -24.3% | -92.4% |
| 2025 | -80.8% | -91.5% |
| 2026 | -81.9% | -93.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTL and CLDI good diversifiers for each other?
Reasonably. At 0.46, ARTL and CLDI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARTL and CLDI?
The ARTL/CLDI correlation stands at 0.46 on a 3-year window (1 year: -0.04, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is CLDI a good diversifier for ARTL?
Reasonably. At 0.46, ARTL and CLDI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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/artl-vs-cldi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/artl-vs-cldi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARTL correlations · CLDI correlations
