ANIX vs SPRB: Correlation
How closely do Anixa Biosciences, Inc. (ANIX) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANIX and SPRB?
Across a 3-year window, the weekly returns of ANIX and SPRB correlate at 0.32, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.32 over 3 years. Stretching to 5 years gives 0.22, with an annualized covariance of 19633.9 %².
Among the 10 assets we track against ANIX, SPRB ranks #5 by 3-year correlation. The last year tells two different stories: SPRB led by 724.3 percentage points, +22.0% for ANIX against +746.3% for SPRB. One caveat on sizing: SPRB is 19.1 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.
ANIX vs SPRB: side by side
| ANIX (Anixa Biosciences, Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | +746.3% |
| 5-year return | -34.3% | -99.8% |
| Volatility (ann.) | 57.0% | 1086.4% |
| Beta vs S&P 500 | 0.60 | -7.82 |
| Max drawdown (3Y) | -57.6% | -100.0% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANIX | SPRB |
|---|---|---|
| 2022 | +43.1% | -75.4% |
| 2023 | -8.7% | +167.1% |
| 2024 | -40.2% | -85.7% |
| 2025 | +34.5% | -96.3% |
| 2026 | +15.4% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANIX and SPRB good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ANIX and SPRB?
As of 2026-08-27, the correlation of weekly returns between ANIX and SPRB is 0.32 over 3 years, 0.51 over 1 year and 0.22 over 5 years.
Is SPRB a good diversifier for ANIX?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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/anix-vs-sprb.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANIX correlations · SPRB correlations
