COO vs SPRO: Correlation
How closely do Cooper Companies (The) (COO) and Spero Therapeutics, Inc. (SPRO) 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 COO and SPRO?
On 3 years of weekly data the COO/SPRO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.22). The 5-year figure is -0.10, and annualized covariance runs at -982.0 %².
Within COO's tracked universe of 38 assets, SPRO comes in at #32 by 3-year correlation. Correlation aside, the last 12 months split them widely, with COO ahead by 34.6 points (-4.3% versus -38.9%). Note the risk asymmetry: SPRO runs 5.8 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.
COO vs SPRO: side by side
| COO (Cooper Companies (The)) | SPRO (Spero Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -4.3% | -38.9% |
| 5-year return | -36.8% | -93.3% |
| Volatility (ann.) | 27.7% | 159.8% |
| Beta vs S&P 500 | 0.69 | 1.61 |
| Max drawdown (3Y) | -47.0% | -68.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | 61.7 | 8.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | COO | SPRO |
|---|---|---|
| 2022 | -21.1% | -89.2% |
| 2023 | +14.5% | -15.0% |
| 2024 | -2.8% | -29.9% |
| 2025 | -10.8% | +126.2% |
| 2026 | -13.4% | -48.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COO and SPRO 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 COO and SPRO?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.04 over the last year and -0.10 over 5 years.
Is SPRO a good diversifier for COO?
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?
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/coo-vs-spro.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coo-vs-spro/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COO correlations · SPRO correlations
