EXPD vs SPRB: Correlation
How closely do Expeditors International (EXPD) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPD and SPRB?
Across a 3-year window, the weekly returns of EXPD and SPRB correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.21). Stretching to 5 years gives -0.13, with an annualized covariance of -5470.2 %².
Within EXPD's tracked universe of 33 assets, SPRB comes in at #26 by 3-year correlation. The last year tells two different stories: SPRB led by 688.8 percentage points, +57.5% for EXPD against +746.3% for SPRB. Note the risk asymmetry: SPRB runs 44.9 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.
EXPD vs SPRB: side by side
| EXPD (Expeditors International) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +57.5% | +746.3% |
| 5-year return | +60.9% | -99.8% |
| Volatility (ann.) | 24.2% | 1086.4% |
| Beta vs S&P 500 | 0.65 | -7.82 |
| Max drawdown (3Y) | -21.3% | -100.0% |
| Market cap | $24.8B | $0.2B |
| P/E (trailing) | 27.7 | – |
| Dividend yield | 0.83% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EXPD | SPRB |
|---|---|---|
| 2022 | -21.7% | -75.4% |
| 2023 | +23.9% | +167.1% |
| 2024 | -11.9% | -85.7% |
| 2025 | +36.2% | -96.3% |
| 2026 | +28.7% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPD and SPRB good diversifiers for each other?
Yes. With a correlation of -0.21, EXPD and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXPD and SPRB?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.33 over the last year and -0.13 over 5 years.
Is SPRB a good diversifier for EXPD?
Yes. With a correlation of -0.21, EXPD and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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/expd-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/expd-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXPD correlations · SPRB correlations
