SBET vs SPRO: Correlation
How closely do Sharplink, Inc. (SBET) and Spero Therapeutics, Inc. (SPRO) trade together? Their weekly returns over three years give a correlation of 0.91, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBET and SPRO?
Over the past 3 years, SBET and SPRO moved with a correlation of 0.91, which is very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (-0.07) than the 3-year average (0.91). Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 89839.2 %².
In SBET's tracked universe of 25 assets, SPRO sits right near the top at #1. The last year tells two different stories: SPRO led by 15.0 percentage points, -53.9% for SBET against -38.9% for SPRO. One caveat on sizing: SBET is 3.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SBET vs SPRO: side by side
| SBET (Sharplink, Inc.) | SPRO (Spero Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -53.9% | -38.9% |
| 5-year return | -98.8% | -93.3% |
| Volatility (ann.) | 616.8% | 159.8% |
| Beta vs S&P 500 | 3.10 | 1.61 |
| Max drawdown (3Y) | -94.2% | -68.9% |
| Market cap | $1.9B | $0.1B |
| P/E (trailing) | – | 8.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBET | SPRO |
|---|---|---|
| 2022 | -88.3% | -89.2% |
| 2023 | -51.6% | -15.0% |
| 2024 | -57.3% | -29.9% |
| 2025 | +16.4% | +126.2% |
| 2026 | -0.7% | -48.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBET and SPRO good diversifiers for each other?
No. With a correlation of 0.91, SBET and SPRO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between SBET and SPRO?
Using weekly returns as of 2026-08-27: 0.91 over 3 years, with -0.07 over the last year and 0.78 over 5 years.
Is SPRO a good diversifier for SBET?
No. With a correlation of 0.91, SBET and SPRO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.91 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/sbet-vs-spro.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sbet-vs-spro/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SBET correlations · SPRO correlations
