ARTNA vs SHPH: Correlation
How closely do Artesian Resources Corporation - Class A Non-Voting (ARTNA) and Shuttle Pharmaceuticals Holdings, Inc. (SHPH) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTNA and SHPH?
On 3 years of weekly data the ARTNA/SHPH correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.22 over 3. The 5-year figure is -0.12, and annualized covariance runs at -502.0 %².
SHPH is close to the least connected end of ARTNA's tracked universe, ranking #9 of 12. Their recent paths diverged sharply: over the last 12 months ARTNA outperformed by 99.0 percentage points (+10.6% for ARTNA against -88.4% for SHPH). Risk is not evenly split, since SHPH carries 4.4 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.
ARTNA vs SHPH: side by side
| ARTNA (Artesian Resources Corporation - Class A Non-Voting) | SHPH (Shuttle Pharmaceuticals Holdings, Inc.) | |
|---|---|---|
| 1-year return | +10.6% | -88.4% |
| 5-year return | +4.6% | n/a |
| Volatility (ann.) | 22.9% | 99.7% |
| Beta vs S&P 500 | 0.27 | 0.99 |
| Max drawdown (3Y) | -34.3% | -99.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 15.6 | 35.3 |
| Dividend yield | 3.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTNA | SHPH |
|---|---|---|
| 2022 | +29.3% | – |
| 2023 | -27.6% | -76.8% |
| 2024 | -21.2% | -76.4% |
| 2025 | +3.8% | -91.6% |
| 2026 | +15.0% | -78.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTNA and SHPH good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARTNA and SHPH?
As of 2026-08-27, the correlation of weekly returns between ARTNA and SHPH is -0.22 over 3 years, -0.24 over 1 year and -0.12 over 5 years.
Is SHPH a good diversifier for ARTNA?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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: ARTNA correlations · SHPH correlations
