RACE vs SPRB: Correlation
How closely do Ferrari N.V. (RACE) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RACE and SPRB?
Across a 3-year window, the weekly returns of RACE and SPRB correlate at -0.37, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.55) runs below the 3-year figure (-0.37). Stretching to 5 years gives -0.30, with an annualized covariance of -13350.8 %².
Among the 13 assets we track against RACE, SPRB sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with SPRB ahead by 757.1 points (-10.8% versus +746.3%). Note the risk asymmetry: SPRB runs 33.0 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.
RACE vs SPRB: side by side
| RACE (Ferrari N.V.) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -10.8% | +746.3% |
| 5-year return | +98.0% | -99.8% |
| Volatility (ann.) | 32.9% | 1086.4% |
| Beta vs S&P 500 | 0.99 | -7.82 |
| Max drawdown (3Y) | -39.2% | -100.0% |
| Market cap | $72.8B | $0.2B |
| P/E (trailing) | 38.2 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RACE | SPRB |
|---|---|---|
| 2022 | -16.7% | -75.4% |
| 2023 | +59.1% | +167.1% |
| 2024 | +26.3% | -85.7% |
| 2025 | -12.3% | -96.3% |
| 2026 | +13.3% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RACE and SPRB good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between RACE and SPRB?
As of 2026-08-27, the correlation of weekly returns between RACE and SPRB is -0.37 over 3 years, -0.55 over 1 year and -0.30 over 5 years.
Is SPRB a good diversifier for RACE?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/race-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/race-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RACE correlations · SPRB correlations
