ARTL vs WKHS: Correlation
Measured on weekly returns over the past three years, Artelo Biosciences, Inc. (ARTL) and Workhorse Group, Inc. (WKHS) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTL and WKHS?
Over the past 3 years, ARTL and WKHS moved with a correlation of 0.51, which is moderate. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.51). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 10925.4 %².
Among the 21 assets we track against ARTL, WKHS ranks #4 by 3-year correlation. The last year tells two different stories: WKHS led by 17.0 percentage points, -97.6% for ARTL against -80.6% for WKHS.
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 WKHS: side by side
| ARTL (Artelo Biosciences, Inc.) | WKHS (Workhorse Group, Inc.) | |
|---|---|---|
| 1-year return | -97.6% | -80.6% |
| 5-year return | -99.7% | -100.0% |
| Volatility (ann.) | 136.9% | 157.8% |
| Beta vs S&P 500 | -0.54 | 1.44 |
| Max drawdown (3Y) | -99.2% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTL | WKHS |
|---|---|---|
| 2022 | -62.9% | -65.1% |
| 2023 | -51.6% | -76.3% |
| 2024 | -24.3% | -90.3% |
| 2025 | -80.8% | -95.1% |
| 2026 | -81.9% | -37.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTL and WKHS good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARTL and WKHS?
The ARTL/WKHS correlation stands at 0.51 on a 3-year window (1 year: -0.08, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is WKHS a good diversifier for ARTL?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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-wkhs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/artl-vs-wkhs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARTL correlations · WKHS correlations
