GGR vs SPRB: Correlation
Gogoro Inc. (GGR) and Spruce Biosciences, Inc. (SPRB) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGR and SPRB?
Over the past 3 years, GGR and SPRB moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.20). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -15590.2 %².
Out of 10 assets tracked against GGR, SPRB lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with SPRB ahead by 811.6 points (-65.3% versus +746.3%). Risk is not evenly split, since SPRB carries 14.8 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.
GGR vs SPRB: side by side
| GGR (Gogoro Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -65.3% | +746.3% |
| 5-year return | -98.7% | -99.8% |
| Volatility (ann.) | 73.2% | 1086.4% |
| Beta vs S&P 500 | 1.20 | -7.82 |
| Max drawdown (3Y) | -96.4% | -100.0% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGR | SPRB |
|---|---|---|
| 2022 | -67.8% | -75.4% |
| 2023 | -18.9% | +167.1% |
| 2024 | -80.6% | -85.7% |
| 2025 | -72.6% | -96.3% |
| 2026 | -6.2% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGR and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between GGR and SPRB?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.32 over the last year and -0.14 over 5 years.
Is SPRB a good diversifier for GGR?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggr-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ggr-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GGR correlations · SPRB correlations
