SPRB vs XBIO: Correlation
Measured on weekly returns over the past three years, Spruce Biosciences, Inc. (SPRB) and Xenetic Biosciences, Inc. (XBIO) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPRB and XBIO?
Across a 3-year window, the weekly returns of SPRB and XBIO correlate at 0.62, strong. Lately the two have moved closer together, with the 1-year correlation at 0.77 versus 0.62 over 3 years. Stretching to 5 years gives 0.53, with an annualized covariance of 60591.2 %².
In SPRB's tracked universe of 67 assets, XBIO sits right near the top at #3. Correlation aside, the last 12 months split them widely, with SPRB ahead by 706.5 points (+746.3% versus +39.8%). Risk is not evenly split, since SPRB carries 12.1 times the volatility of the other side.
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 XBIO: side by side
| SPRB (Spruce Biosciences, Inc.) | XBIO (Xenetic Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +746.3% | +39.8% |
| 5-year return | -99.8% | -86.8% |
| Volatility (ann.) | 1086.4% | 90.1% |
| Beta vs S&P 500 | -7.82 | 0.46 |
| Max drawdown (3Y) | -100.0% | -80.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPRB | XBIO |
|---|---|---|
| 2022 | -75.4% | -77.9% |
| 2023 | +167.1% | +21.1% |
| 2024 | -85.7% | +15.7% |
| 2025 | -96.3% | -45.6% |
| 2026 | -27.3% | +82.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPRB and XBIO good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPRB and XBIO?
The SPRB/XBIO correlation stands at 0.62 on a 3-year window (1 year: 0.77, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is XBIO a good diversifier for SPRB?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 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-xbio.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sprb-vs-xbio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPRB correlations · XBIO correlations
