AGD vs SPRB: Correlation
Measured on weekly returns over the past three years, abrdn Global Dynamic Dividend Fund (AGD) and Spruce Biosciences, Inc. (SPRB) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGD and SPRB?
Across a 3-year window, the weekly returns of AGD and SPRB correlate at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.64) than the 3-year average (-0.48). Stretching to 5 years gives -0.37, with an annualized covariance of -11246.7 %².
Among the 15 assets we track against AGD, SPRB sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with SPRB ahead by 726.6 points (+19.7% versus +746.3%). Note the risk asymmetry: SPRB runs 50.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AGD vs SPRB: side by side
| AGD (abrdn Global Dynamic Dividend Fund) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +746.3% |
| 5-year return | +65.7% | -99.8% |
| Volatility (ann.) | 21.4% | 1086.4% |
| Beta vs S&P 500 | 0.88 | -7.82 |
| Max drawdown (3Y) | -20.3% | -100.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | 4.2 | – |
| Dividend yield | 5.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGD | SPRB |
|---|---|---|
| 2022 | -15.3% | -75.4% |
| 2023 | +7.4% | +167.1% |
| 2024 | +16.4% | -85.7% |
| 2025 | +34.3% | -96.3% |
| 2026 | +16.5% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGD and SPRB good diversifiers for each other?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGD and SPRB?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.64 over the last year and -0.37 over 5 years.
Is SPRB a good diversifier for AGD?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.48 mean?
A reading of -0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AGD correlations · SPRB correlations
