AFG vs SPRB: Correlation
Measured on weekly returns over the past three years, American Financial Group, Inc. (AFG) and Spruce Biosciences, Inc. (SPRB) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFG and SPRB?
On 3 years of weekly data the AFG/SPRB correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.23). The 5-year figure is -0.16, and annualized covariance runs at -4966.2 %².
Among the 19 assets we track against AFG, SPRB sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with SPRB ahead by 735.9 points (+10.4% versus +746.3%). Risk is not evenly split, since SPRB carries 55.7 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.
AFG vs SPRB: side by side
| AFG (American Financial Group, Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +10.4% | +746.3% |
| 5-year return | +56.7% | -99.8% |
| Volatility (ann.) | 19.5% | 1086.4% |
| Beta vs S&P 500 | 0.43 | -7.82 |
| Max drawdown (3Y) | -19.8% | -100.0% |
| Market cap | $11.8B | $0.2B |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 2.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFG | SPRB |
|---|---|---|
| 2022 | +10.9% | -75.4% |
| 2023 | -7.6% | +167.1% |
| 2024 | +23.8% | -85.7% |
| 2025 | +5.4% | -96.3% |
| 2026 | +7.7% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFG and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between AFG and SPRB?
The AFG/SPRB correlation stands at -0.23 on a 3-year window (1 year: -0.41, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for AFG?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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.
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Related comparisons
Hubs: AFG correlations · SPRB correlations
