EMR vs SPRB: Correlation
How closely do Emerson Electric (EMR) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.12, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMR and SPRB?
Over the past 3 years, EMR and SPRB moved with a correlation of -0.12, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.24) than the 3-year average (-0.12). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -3689.9 %².
By 3-year correlation, SPRB places #40 of the 47 assets tracked against EMR. Their recent paths diverged sharply: over the last 12 months SPRB outperformed by 726.3 percentage points (+20.0% for EMR against +746.3% for SPRB). One caveat on sizing: SPRB is 38.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EMR vs SPRB: side by side
| EMR (Emerson Electric) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +20.0% | +746.3% |
| 5-year return | +65.4% | -99.8% |
| Volatility (ann.) | 28.3% | 1086.4% |
| Beta vs S&P 500 | 1.29 | -7.82 |
| Max drawdown (3Y) | -29.6% | -100.0% |
| Market cap | $88.0B | $0.2B |
| P/E (trailing) | 34.5 | – |
| Dividend yield | 1.39% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EMR | SPRB |
|---|---|---|
| 2022 | +5.7% | -75.4% |
| 2023 | +3.8% | +167.1% |
| 2024 | +29.7% | -85.7% |
| 2025 | +8.9% | -96.3% |
| 2026 | +20.2% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMR and SPRB good diversifiers for each other?
Yes: at -0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EMR and SPRB?
Using weekly returns as of 2026-08-27: -0.12 over 3 years, with -0.24 over the last year and -0.09 over 5 years.
Is SPRB a good diversifier for EMR?
Yes: at -0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.12 mean?
On the −1 to +1 scale, -0.12 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/emr-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/emr-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EMR correlations · SPRB correlations
