QQQ vs SPRB: Correlation
How closely do Invesco QQQ Trust (QQQ) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPRB?
Across a 3-year window, the weekly returns of QQQ and SPRB correlate at -0.08, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.15 over 1 year against -0.08 over 3. Stretching to 5 years gives -0.04, with an annualized covariance of -1596.2 %².
Among the 4755 assets we track against QQQ, SPRB ranks #4701 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPRB ahead by 720.0 points (+26.3% versus +746.3%). Note the risk asymmetry: SPRB runs 55.4 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.
QQQ vs SPRB: side by side
| QQQ (Invesco QQQ Trust) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +746.3% |
| 5-year return | +95.4% | -99.8% |
| Volatility (ann.) | 19.6% | 1086.4% |
| Beta vs S&P 500 | 1.28 | -7.82 |
| Max drawdown (3Y) | -22.8% | -100.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SPRB |
|---|---|---|
| 2022 | -32.6% | -75.4% |
| 2023 | +54.9% | +167.1% |
| 2024 | +25.6% | -85.7% |
| 2025 | +20.8% | -96.3% |
| 2026 | +17.7% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPRB good diversifiers for each other?
Yes: at -0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SPRB?
The QQQ/SPRB correlation stands at -0.08 on a 3-year window (1 year: -0.15, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for QQQ?
Yes: at -0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.08 mean?
A reading of -0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · SPRB correlations
