SPRB vs SWK: Correlation
How closely do Spruce Biosciences, Inc. (SPRB) and Stanley Black & Decker (SWK) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPRB and SWK?
On 3 years of weekly data the SPRB/SWK correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.24). The 5-year figure is -0.16, and annualized covariance runs at -9065.1 %².
Within SPRB's tracked universe of 67 assets, SWK comes in at #55 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPRB ahead by 709.3 points (+746.3% versus +37.0%). One caveat on sizing: SPRB is 30.7 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.
SPRB vs SWK: side by side
| SPRB (Spruce Biosciences, Inc.) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | +746.3% | +37.0% |
| 5-year return | -99.8% | -39.1% |
| Volatility (ann.) | 1086.4% | 35.4% |
| Beta vs S&P 500 | -7.82 | 1.19 |
| Max drawdown (3Y) | -100.0% | -48.3% |
| Market cap | $0.2B | $15.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 0.00% | 3.33% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | SPRB | SWK |
|---|---|---|
| 2022 | -75.4% | -58.9% |
| 2023 | +167.1% | +35.6% |
| 2024 | -85.7% | -15.2% |
| 2025 | -96.3% | -3.2% |
| 2026 | -27.3% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPRB and SWK good diversifiers for each other?
Yes. With a correlation of -0.24, SPRB and SWK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPRB and SWK?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.42 over the last year and -0.16 over 5 years.
Is SWK a good diversifier for SPRB?
Yes. With a correlation of -0.24, SPRB and SWK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/sprb-vs-swk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sprb-vs-swk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPRB correlations · SWK correlations
