OLP vs SPRB: Correlation
Measured on weekly returns over the past three years, One Liberty Properties, Inc. (OLP) and Spruce Biosciences, Inc. (SPRB) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and SPRB?
Over the past 3 years, OLP and SPRB moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.44) than the 3-year average (-0.22). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -5141.4 %².
SPRB is close to the least connected end of OLP's tracked universe, ranking #25 of 28. Correlation aside, the last 12 months split them widely, with SPRB ahead by 733.3 points (+13.0% versus +746.3%). Risk is not evenly split, since SPRB carries 50.5 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.
OLP vs SPRB: side by side
| OLP (One Liberty Properties, Inc.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +13.0% | +746.3% |
| 5-year return | +11.9% | -99.8% |
| Volatility (ann.) | 21.5% | 1086.4% |
| Beta vs S&P 500 | 0.49 | -7.82 |
| Max drawdown (3Y) | -28.8% | -100.0% |
| Market cap | $0.5B | $0.2B |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 7.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLP | SPRB |
|---|---|---|
| 2022 | -32.3% | -75.4% |
| 2023 | +7.6% | +167.1% |
| 2024 | +33.5% | -85.7% |
| 2025 | -19.6% | -96.3% |
| 2026 | +23.7% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between OLP and SPRB?
The OLP/SPRB correlation stands at -0.22 on a 3-year window (1 year: -0.44, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for OLP?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/olp-vs-sprb.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OLP correlations · SPRB correlations
