ARTL vs HCA: Correlation
Artelo Biosciences, Inc. (ARTL) and HCA Healthcare (HCA) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTL and HCA?
On 3 years of weekly data the ARTL/HCA correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.18). The 5-year figure is -0.05, and annualized covariance runs at -679.0 %².
By 3-year correlation, HCA places #11 of the 21 assets tracked against ARTL. Their recent paths diverged sharply: over the last 12 months HCA outperformed by 101.8 percentage points (-97.6% for ARTL against +4.2% for HCA). Risk is not evenly split, since ARTL carries 5.1 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.
ARTL vs HCA: side by side
| ARTL (Artelo Biosciences, Inc.) | HCA (HCA Healthcare) | |
|---|---|---|
| 1-year return | -97.6% | +4.2% |
| 5-year return | -99.7% | +72.5% |
| Volatility (ann.) | 136.9% | 26.9% |
| Beta vs S&P 500 | -0.54 | 0.42 |
| Max drawdown (3Y) | -99.2% | -33.6% |
| Market cap | – | $90.8B |
| P/E (trailing) | – | 14.1 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ARTL | HCA |
|---|---|---|
| 2022 | -62.9% | -5.6% |
| 2023 | -51.6% | +13.8% |
| 2024 | -24.3% | +11.8% |
| 2025 | -80.8% | +56.7% |
| 2026 | -81.9% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTL and HCA good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARTL and HCA?
As of 2026-08-27, the correlation of weekly returns between ARTL and HCA is -0.18 over 3 years, -0.38 over 1 year and -0.05 over 5 years.
Is HCA a good diversifier for ARTL?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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: ARTL correlations · HCA correlations
