SBR vs SPRB: Correlation
Sabine Royalty Trust (SBR) and Spruce Biosciences, Inc. (SPRB) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBR and SPRB?
Over the past 3 years, SBR and SPRB moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.25 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -6342.8 %².
Among the 10 assets we track against SBR, SPRB sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with SPRB ahead by 737.2 points (+9.1% versus +746.3%). One caveat on sizing: SPRB is 47.4 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.
SBR vs SPRB: side by side
| SBR (Sabine Royalty Trust) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +9.1% | +746.3% |
| 5-year return | +200.0% | -99.8% |
| Volatility (ann.) | 22.9% | 1086.4% |
| Beta vs S&P 500 | 0.33 | -7.82 |
| Max drawdown (3Y) | -18.5% | -100.0% |
| Market cap | $1.1B | $0.2B |
| P/E (trailing) | 15.1 | – |
| Dividend yield | 6.55% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBR | SPRB |
|---|---|---|
| 2022 | +132.1% | -75.4% |
| 2023 | -13.1% | +167.1% |
| 2024 | +4.1% | -85.7% |
| 2025 | +14.0% | -96.3% |
| 2026 | +12.7% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBR and SPRB good diversifiers for each other?
Yes. With a correlation of -0.25, SBR and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SBR and SPRB?
As of 2026-08-27, the correlation of weekly returns between SBR and SPRB is -0.25 over 3 years, -0.42 over 1 year and -0.15 over 5 years.
Is SPRB a good diversifier for SBR?
Yes. With a correlation of -0.25, SBR and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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/sbr-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sbr-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SBR correlations · SPRB correlations
