ARTL vs UVE: Correlation
Artelo Biosciences, Inc. (ARTL) and UNIVERSAL INSURANCE HOLDINGS INC (UVE) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTL and UVE?
On 3 years of weekly data the ARTL/UVE correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.26 over 3. The 5-year figure is -0.11, and annualized covariance runs at -1194.1 %².
UVE is close to the least connected end of ARTL's tracked universe, ranking #21 of 21. Their recent paths diverged sharply: over the last 12 months UVE outperformed by 177.9 percentage points (-97.6% for ARTL against +80.3% for UVE). One caveat on sizing: ARTL is 4.1 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 UVE: side by side
| ARTL (Artelo Biosciences, Inc.) | UVE (UNIVERSAL INSURANCE HOLDINGS INC) | |
|---|---|---|
| 1-year return | -97.6% | +80.3% |
| 5-year return | -99.7% | +277.8% |
| Volatility (ann.) | 136.9% | 33.5% |
| Beta vs S&P 500 | -0.54 | 0.36 |
| Max drawdown (3Y) | -99.2% | -25.7% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 5.7 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTL | UVE |
|---|---|---|
| 2022 | -62.9% | -33.5% |
| 2023 | -51.6% | +58.1% |
| 2024 | -24.3% | +36.8% |
| 2025 | -80.8% | +65.3% |
| 2026 | -81.9% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTL and UVE good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARTL and UVE?
The ARTL/UVE correlation stands at -0.26 on a 3-year window (1 year: -0.28, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is UVE a good diversifier for ARTL?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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-uve.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/artl-vs-uve/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARTL correlations · UVE correlations
