ARTL vs METCB: Correlation
How closely do Artelo Biosciences, Inc. (ARTL) and Ramaco Resources, Inc. (METCB) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTL and METCB?
Across a 3-year window, the weekly returns of ARTL and METCB correlate at 0.37, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.37). Stretching to 5 years gives n/a, with an annualized covariance of 3032.6 %².
Among the 21 assets we track against ARTL, METCB ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months METCB outperformed by 44.6 percentage points (-97.6% for ARTL against -53.0% for METCB). Note the risk asymmetry: ARTL runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 METCB: side by side
| ARTL (Artelo Biosciences, Inc.) | METCB (Ramaco Resources, Inc.) | |
|---|---|---|
| 1-year return | -97.6% | -53.0% |
| 5-year return | -99.7% | n/a |
| Volatility (ann.) | 136.9% | 59.3% |
| Beta vs S&P 500 | -0.54 | 0.57 |
| Max drawdown (3Y) | -99.2% | -71.4% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTL | METCB |
|---|---|---|
| 2022 | -62.9% | – |
| 2023 | -51.6% | – |
| 2024 | -24.3% | -17.4% |
| 2025 | -80.8% | +25.9% |
| 2026 | -81.9% | -34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTL and METCB good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARTL and METCB?
The ARTL/METCB correlation stands at 0.37 on a 3-year window (1 year: 0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is METCB a good diversifier for ARTL?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARTL correlations · METCB correlations
