NTRS vs SPRB: Correlation
Northern Trust (NTRS) and Spruce Biosciences, Inc. (SPRB) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRS and SPRB?
On 3 years of weekly data the NTRS/SPRB correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.15 over 3 years. The 5-year figure is -0.08, and annualized covariance runs at -3754.9 %².
By 3-year correlation, SPRB places #26 of the 33 assets tracked against NTRS. The last year tells two different stories: SPRB led by 701.5 percentage points, +44.8% for NTRS against +746.3% for SPRB. Risk is not evenly split, since SPRB carries 45.8 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.
NTRS vs SPRB: side by side
| NTRS (Northern Trust) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +44.8% | +746.3% |
| 5-year return | +83.2% | -99.8% |
| Volatility (ann.) | 23.7% | 1086.4% |
| Beta vs S&P 500 | 1.08 | -7.82 |
| Max drawdown (3Y) | -25.2% | -100.0% |
| Market cap | $34.1B | $0.2B |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 1.71% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | NTRS | SPRB |
|---|---|---|
| 2022 | -23.8% | -75.4% |
| 2023 | -1.0% | +167.1% |
| 2024 | +25.6% | -85.7% |
| 2025 | +36.9% | -96.3% |
| 2026 | +37.8% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRS and SPRB good diversifiers for each other?
Yes. With a correlation of -0.15, NTRS and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NTRS and SPRB?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with -0.37 over the last year and -0.08 over 5 years.
Is SPRB a good diversifier for NTRS?
Yes. With a correlation of -0.15, NTRS and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 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/ntrs-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ntrs-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NTRS correlations · SPRB correlations
