IVA vs SPRB: Correlation
How closely do Inventiva S.A. - American Depository Shares (IVA) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVA and SPRB?
Over the past 3 years, IVA and SPRB moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.25). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -19280.2 %².
SPRB is close to the least connected end of IVA's tracked universe, ranking #10 of 10. The last year tells two different stories: SPRB led by 752.6 percentage points, -6.3% for IVA against +746.3% for SPRB. Risk is not evenly split, since SPRB carries 15.5 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.
IVA vs SPRB: side by side
| IVA (Inventiva S.A. - American Depository Shares) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -6.3% | +746.3% |
| 5-year return | -60.4% | -99.8% |
| Volatility (ann.) | 69.9% | 1086.4% |
| Beta vs S&P 500 | 0.38 | -7.82 |
| Max drawdown (3Y) | -64.9% | -100.0% |
| Market cap | $1.2B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IVA | SPRB |
|---|---|---|
| 2022 | -67.3% | -75.4% |
| 2023 | +1.3% | +167.1% |
| 2024 | -52.6% | -85.7% |
| 2025 | +117.3% | -96.3% |
| 2026 | +5.4% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVA and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between IVA and SPRB?
The IVA/SPRB correlation stands at -0.25 on a 3-year window (1 year: -0.40, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for IVA?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/iva-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iva-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IVA correlations · SPRB correlations
