KEY vs SPRB: Correlation
KeyCorp (KEY) and Spruce Biosciences, Inc. (SPRB) show a negative relationship: their 3-year correlation of weekly returns is -0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and SPRB?
On 3 years of weekly data the KEY/SPRB correlation comes out at -0.14, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.14 over 3 years. The 5-year figure is -0.08, and annualized covariance runs at -4836.4 %².
Within KEY's tracked universe of 59 assets, SPRB comes in at #54 by 3-year correlation. The last year tells two different stories: SPRB led by 727.9 percentage points, +18.4% for KEY against +746.3% for SPRB. Note the risk asymmetry: SPRB runs 33.8 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.
KEY vs SPRB: side by side
| KEY (KeyCorp) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +18.4% | +746.3% |
| 5-year return | +38.0% | -99.8% |
| Volatility (ann.) | 32.1% | 1086.4% |
| Beta vs S&P 500 | 1.25 | -7.82 |
| Max drawdown (3Y) | -32.2% | -100.0% |
| Market cap | $23.5B | $0.2B |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | KEY | SPRB |
|---|---|---|
| 2022 | -21.7% | -75.4% |
| 2023 | -11.5% | +167.1% |
| 2024 | +25.3% | -85.7% |
| 2025 | +26.2% | -96.3% |
| 2026 | +8.8% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between KEY and SPRB?
The KEY/SPRB correlation stands at -0.14 on a 3-year window (1 year: -0.34, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for KEY?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
What does a correlation of -0.14 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/key-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/key-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KEY correlations · SPRB correlations
