GRBK vs SPRB: Correlation
Green Brick Partners, Inc. (GRBK) and Spruce Biosciences, Inc. (SPRB) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRBK and SPRB?
Across a 3-year window, the weekly returns of GRBK and SPRB correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.29). Stretching to 5 years gives -0.18, with an annualized covariance of -11742.0 %².
Among the 27 assets we track against GRBK, SPRB sits near the bottom by co-movement, at rank #25. The last year tells two different stories: SPRB led by 741.8 percentage points, +4.5% for GRBK against +746.3% for SPRB. One caveat on sizing: SPRB is 29.1 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.
GRBK vs SPRB: side by side
| GRBK (Green Brick Partners, Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +4.5% | +746.3% |
| 5-year return | +186.8% | -99.8% |
| Volatility (ann.) | 37.3% | 1086.4% |
| Beta vs S&P 500 | 1.07 | -7.82 |
| Max drawdown (3Y) | -36.1% | -100.0% |
| Market cap | $3.1B | $0.2B |
| P/E (trailing) | 11.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRBK | SPRB |
|---|---|---|
| 2022 | -20.1% | -75.4% |
| 2023 | +114.4% | +167.1% |
| 2024 | +8.8% | -85.7% |
| 2025 | +10.9% | -96.3% |
| 2026 | +16.2% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRBK and SPRB good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GRBK and SPRB?
The GRBK/SPRB correlation stands at -0.29 on a 3-year window (1 year: -0.50, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for GRBK?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GRBK correlations · SPRB correlations
