GOOD vs SPRB: Correlation
Gl (GOOD) and Spruce Biosciences, Inc. (SPRB) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOD and SPRB?
Over the past 3 years, GOOD and SPRB moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.19). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -4629.9 %².
SPRB is close to the least connected end of GOOD's tracked universe, ranking #14 of 16. Their recent paths diverged sharply: over the last 12 months SPRB outperformed by 738.1 percentage points (+8.2% for GOOD against +746.3% for SPRB). One caveat on sizing: SPRB is 48.7 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.
GOOD vs SPRB: side by side
| GOOD (Gl) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +8.2% | +746.3% |
| 5-year return | -11.7% | -99.8% |
| Volatility (ann.) | 22.3% | 1086.4% |
| Beta vs S&P 500 | 0.67 | -7.82 |
| Max drawdown (3Y) | -35.3% | -100.0% |
| Market cap | $0.6B | $0.2B |
| P/E (trailing) | 51.9 | – |
| Dividend yield | 9.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GOOD | SPRB |
|---|---|---|
| 2022 | -22.5% | -75.4% |
| 2023 | -21.6% | +167.1% |
| 2024 | +33.3% | -85.7% |
| 2025 | -28.1% | -96.3% |
| 2026 | +29.9% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOD and SPRB good diversifiers for each other?
Yes. With a correlation of -0.19, GOOD and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GOOD and SPRB?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.34 over the last year and -0.11 over 5 years.
Is SPRB a good diversifier for GOOD?
Yes. With a correlation of -0.19, GOOD and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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/good-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/good-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GOOD correlations · SPRB correlations
