SPRB vs WINA: Correlation
Spruce Biosciences, Inc. (SPRB) and Winmark Corporation (WINA) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPRB and WINA?
On 3 years of weekly data the SPRB/WINA correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.31). The 5-year figure is -0.26, and annualized covariance runs at -11928.8 %².
Within SPRB's tracked universe of 67 assets, WINA comes in at #61 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPRB ahead by 770.6 points (+746.3% versus -24.3%). Note the risk asymmetry: SPRB runs 30.7 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.
SPRB vs WINA: side by side
| SPRB (Spruce Biosciences, Inc.) | WINA (Winmark Corporation) | |
|---|---|---|
| 1-year return | +746.3% | -24.3% |
| 5-year return | -99.8% | +89.5% |
| Volatility (ann.) | 1086.4% | 35.4% |
| Beta vs S&P 500 | -7.82 | 0.47 |
| Max drawdown (3Y) | -100.0% | -34.0% |
| Market cap | $0.2B | $1.2B |
| P/E (trailing) | – | 30.4 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPRB | WINA |
|---|---|---|
| 2022 | -75.4% | -2.8% |
| 2023 | +167.1% | +82.6% |
| 2024 | -85.7% | -3.3% |
| 2025 | -96.3% | +6.4% |
| 2026 | -27.3% | -16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPRB and WINA good diversifiers for each other?
Yes. With a correlation of -0.31, SPRB and WINA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPRB and WINA?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.46 over the last year and -0.26 over 5 years.
Is WINA a good diversifier for SPRB?
Yes. With a correlation of -0.31, SPRB and WINA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/sprb-vs-wina.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sprb-vs-wina/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPRB correlations · WINA correlations
