BJDX vs SPRB: Correlation
How closely do Bluejay Diagnostics, Inc. (BJDX) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJDX and SPRB?
On 3 years of weekly data the BJDX/SPRB correlation comes out at 0.42, moderate. The past 12 months show a tighter link (0.55) than the 3-year average (0.42). The 5-year figure is 0.38, and annualized covariance runs at 69603.5 %².
In BJDX's tracked universe of 19 assets, SPRB sits right near the top at #3. Correlation aside, the last 12 months split them widely, with SPRB ahead by 829.7 points (-83.4% versus +746.3%). Note the risk asymmetry: SPRB runs 7.2 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.
BJDX vs SPRB: side by side
| BJDX (Bluejay Diagnostics, Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -83.4% | +746.3% |
| 5-year return | -100.0% | -99.8% |
| Volatility (ann.) | 151.7% | 1086.4% |
| Beta vs S&P 500 | -0.30 | -7.82 |
| Max drawdown (3Y) | -100.0% | -100.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJDX | SPRB |
|---|---|---|
| 2022 | -85.2% | -75.4% |
| 2023 | -83.9% | +167.1% |
| 2024 | -99.0% | -85.7% |
| 2025 | -86.3% | -96.3% |
| 2026 | -65.9% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJDX and SPRB good diversifiers for each other?
Reasonably. At 0.42, BJDX and SPRB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BJDX and SPRB?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.55 over the last year and 0.38 over 5 years.
Is SPRB a good diversifier for BJDX?
Reasonably. At 0.42, BJDX and SPRB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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/bjdx-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bjdx-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BJDX correlations · SPRB correlations
