PNC vs SPRB: Correlation
Measured on weekly returns over the past three years, PNC Financial Services (PNC) and Spruce Biosciences, Inc. (SPRB) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and SPRB?
On 3 years of weekly data the PNC/SPRB correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.17 over 3 years. The 5-year figure is -0.11, and annualized covariance runs at -4808.3 %².
Out of 47 assets tracked against PNC, SPRB lands near the bottom at #43. Their recent paths diverged sharply: over the last 12 months SPRB outperformed by 724.2 percentage points (+22.1% for PNC against +746.3% for SPRB). Note the risk asymmetry: SPRB runs 42.4 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.
PNC vs SPRB: side by side
| PNC (PNC Financial Services) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +22.1% | +746.3% |
| 5-year return | +53.5% | -99.8% |
| Volatility (ann.) | 25.6% | 1086.4% |
| Beta vs S&P 500 | 0.92 | -7.82 |
| Max drawdown (3Y) | -29.8% | -100.0% |
| Market cap | $97.1B | $0.2B |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 2.78% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PNC | SPRB |
|---|---|---|
| 2022 | -18.6% | -75.4% |
| 2023 | +2.7% | +167.1% |
| 2024 | +29.4% | -85.7% |
| 2025 | +12.2% | -96.3% |
| 2026 | +19.4% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and SPRB good diversifiers for each other?
Yes. With a correlation of -0.17, PNC and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PNC and SPRB?
As of 2026-08-27, the correlation of weekly returns between PNC and SPRB is -0.17 over 3 years, -0.34 over 1 year and -0.11 over 5 years.
Is SPRB a good diversifier for PNC?
Yes. With a correlation of -0.17, PNC and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pnc-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pnc-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PNC correlations · SPRB correlations
