CHR vs SPRU: Correlation
How closely do Cheer Holding, Inc. - Class A (CHR) and Spruce Power Holding Corporation (SPRU) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHR and SPRU?
On 3 years of weekly data the CHR/SPRU correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. The 5-year figure is -0.17, and annualized covariance runs at -1624.2 %².
Among the 20 assets we track against CHR, SPRU ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPRU outperformed by 126.8 percentage points (-98.9% for CHR against +27.9% for SPRU).
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.
CHR vs SPRU: side by side
| CHR (Cheer Holding, Inc. - Class A) | SPRU (Spruce Power Holding Corporation) | |
|---|---|---|
| 1-year return | -98.9% | +27.9% |
| 5-year return | -100.0% | -96.5% |
| Volatility (ann.) | 89.2% | 84.6% |
| Beta vs S&P 500 | 0.17 | 1.03 |
| Max drawdown (3Y) | -99.8% | -83.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHR | SPRU |
|---|---|---|
| 2022 | +23.7% | -72.2% |
| 2023 | -78.5% | -39.9% |
| 2024 | -20.7% | -32.8% |
| 2025 | -99.0% | +71.4% |
| 2026 | -52.6% | -63.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHR and SPRU good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHR and SPRU?
As of 2026-08-27, the correlation of weekly returns between CHR and SPRU is -0.22 over 3 years, -0.32 over 1 year and -0.17 over 5 years.
Is SPRU a good diversifier for CHR?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/chr-vs-spru.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chr-vs-spru/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHR correlations · SPRU correlations
