SCHD vs SPRB: Correlation
How closely do Schwab US Dividend Equity ETF (SCHD) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHD and SPRB?
Across a 3-year window, the weekly returns of SCHD and SPRB correlate at -0.15, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.15 over 3 years. Stretching to 5 years gives -0.09, with an annualized covariance of -2150.6 %².
By 3-year correlation, SPRB places #102 of the 108 assets tracked against SCHD. The last year tells two different stories: SPRB led by 716.7 percentage points, +29.6% for SCHD against +746.3% for SPRB. Note the risk asymmetry: SPRB runs 84.2 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.
SCHD vs SPRB: side by side
| SCHD (Schwab US Dividend Equity ETF) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +29.6% | +746.3% |
| 5-year return | +60.9% | -99.8% |
| Volatility (ann.) | 12.9% | 1086.4% |
| Beta vs S&P 500 | 0.52 | -7.82 |
| Max drawdown (3Y) | -16.1% | -100.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 3.13% | 0.00% |
| Expense ratio | 0.06% | – |
| Assets under management | $104.2B | – |
| Sector / category | ETF · Dividend | US Listed |
SCHD is a Large Value fund from Schwab ETFs: $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | SCHD | SPRB |
|---|---|---|
| 2022 | -3.3% | -75.4% |
| 2023 | +4.5% | +167.1% |
| 2024 | +11.7% | -85.7% |
| 2025 | +4.3% | -96.3% |
| 2026 | +29.1% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHD and SPRB good diversifiers for each other?
Yes. With a correlation of -0.15, SCHD and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SCHD and SPRB?
The SCHD/SPRB correlation stands at -0.15 on a 3-year window (1 year: -0.35, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is SPRB a good diversifier for SCHD?
Yes. With a correlation of -0.15, SCHD and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 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/schd-vs-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/schd-vs-sprb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SCHD correlations · SPRB correlations
