CHAI vs SPRB: Correlation
How closely do Core AI Holdings, Inc. (CHAI) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHAI and SPRB?
Over the past 3 years, CHAI and SPRB moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.19). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -32477.8 %².
Among the 11 assets we track against CHAI, SPRB sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with SPRB ahead by 844.2 points (-97.9% versus +746.3%). Note the risk asymmetry: SPRB runs 7.1 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.
CHAI vs SPRB: side by side
| CHAI (Core AI Holdings, Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -97.9% | +746.3% |
| 5-year return | -100.0% | -99.8% |
| Volatility (ann.) | 153.8% | 1086.4% |
| Beta vs S&P 500 | 0.95 | -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 | CHAI | SPRB |
|---|---|---|
| 2022 | -95.9% | -75.4% |
| 2023 | -96.1% | +167.1% |
| 2024 | -99.2% | -85.7% |
| 2025 | -93.3% | -96.3% |
| 2026 | -84.4% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHAI and SPRB good diversifiers for each other?
Yes. With a correlation of -0.19, CHAI and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CHAI and SPRB?
As of 2026-08-27, the correlation of weekly returns between CHAI and SPRB is -0.19 over 3 years, -0.42 over 1 year and -0.16 over 5 years.
Is SPRB a good diversifier for CHAI?
Yes. With a correlation of -0.19, CHAI and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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: CHAI correlations · SPRB correlations
