CLGN vs SPRO: Correlation
How closely do CollPlant Biotechnologies Ltd. (CLGN) and Spero Therapeutics, Inc. (SPRO) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLGN and SPRO?
On 3 years of weekly data the CLGN/SPRO correlation comes out at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.16 versus 0.39 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 5515.8 %².
In CLGN's tracked universe of 10 assets, SPRO sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months SPRO outperformed by 51.1 percentage points (-90.0% for CLGN against -38.9% for SPRO). Risk is not evenly split, since SPRO carries 1.8 times the volatility of the other side.
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.
CLGN vs SPRO: side by side
| CLGN (CollPlant Biotechnologies Ltd.) | SPRO (Spero Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -90.0% | -38.9% |
| 5-year return | -98.3% | -93.3% |
| Volatility (ann.) | 87.8% | 159.8% |
| Beta vs S&P 500 | 0.37 | 1.61 |
| Max drawdown (3Y) | -96.4% | -68.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 8.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLGN | SPRO |
|---|---|---|
| 2022 | -49.0% | -89.2% |
| 2023 | -23.5% | -15.0% |
| 2024 | -43.7% | -29.9% |
| 2025 | -61.1% | +126.2% |
| 2026 | -79.3% | -48.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLGN and SPRO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLGN and SPRO?
The CLGN/SPRO correlation stands at 0.39 on a 3-year window (1 year: -0.16, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is SPRO a good diversifier for CLGN?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/clgn-vs-spro.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clgn-vs-spro/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLGN correlations · SPRO correlations
