BX vs SPRB: Correlation
How closely do Blackstone Inc. (BX) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.13, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BX and SPRB?
On 3 years of weekly data the BX/SPRB correlation comes out at -0.13, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.25) than the 3-year average (-0.13). The 5-year figure is -0.08, and annualized covariance runs at -4948.0 %².
Within BX's tracked universe of 35 assets, SPRB comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPRB ahead by 759.2 points (-12.9% versus +746.3%). Note the risk asymmetry: SPRB runs 32.0 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.
BX vs SPRB: side by side
| BX (Blackstone Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -12.9% | +746.3% |
| 5-year return | +37.5% | -99.8% |
| Volatility (ann.) | 34.0% | 1086.4% |
| Beta vs S&P 500 | 1.36 | -7.82 |
| Max drawdown (3Y) | -46.5% | -100.0% |
| Market cap | $171.7B | $0.2B |
| P/E (trailing) | 32.1 | – |
| Dividend yield | 3.65% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BX | SPRB |
|---|---|---|
| 2022 | -40.0% | -75.4% |
| 2023 | +82.7% | +167.1% |
| 2024 | +35.1% | -85.7% |
| 2025 | -7.8% | -96.3% |
| 2026 | -3.9% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BX and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between BX and SPRB?
The BX/SPRB correlation stands at -0.13 on a 3-year window (1 year: -0.25, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for BX?
By historical standards, yes. A correlation of -0.13 means the two rarely move for the same reasons.
What does a correlation of -0.13 mean?
On the −1 to +1 scale, -0.13 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bx-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bx-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BX correlations · SPRB correlations
