ARTL vs SPY: Correlation
Artelo Biosciences, Inc. (ARTL) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTL and SPY?
Over the past 3 years, ARTL and SPY moved with a correlation of -0.06, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.25) runs below the 3-year figure (-0.06). Over 5 years the correlation is 0.03, and the annualized covariance of weekly returns is -113.7 %².
By 3-year correlation, SPY places #8 of the 21 assets tracked against ARTL. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 118.2 percentage points (-97.6% for ARTL against +20.6% for SPY). One caveat on sizing: ARTL is 9.4 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.
ARTL vs SPY: side by side
| ARTL (Artelo Biosciences, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -97.6% | +20.6% |
| 5-year return | -99.7% | +82.4% |
| Volatility (ann.) | 136.9% | 14.5% |
| Beta vs S&P 500 | -0.54 | 1.00 |
| Max drawdown (3Y) | -99.2% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ARTL | SPY |
|---|---|---|
| 2022 | -62.9% | -18.2% |
| 2023 | -51.6% | +26.2% |
| 2024 | -24.3% | +24.9% |
| 2025 | -80.8% | +17.7% |
| 2026 | -81.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTL and SPY good diversifiers for each other?
Yes: at -0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARTL and SPY?
As of 2026-08-27, the correlation of weekly returns between ARTL and SPY is -0.06 over 3 years, -0.25 over 1 year and 0.03 over 5 years.
Is SPY a good diversifier for ARTL?
Yes: at -0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.06 mean?
On the −1 to +1 scale, -0.06 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 · SPY correlations
