SPRY vs VMAR: Correlation
Measured on weekly returns over the past three years, ARS Pharmaceuticals, Inc. (SPRY) and Vision Marine Technologies Inc. (VMAR) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPRY and VMAR?
Across a 3-year window, the weekly returns of SPRY and VMAR correlate at 0.26, weak. Recent behaviour matches the longer record: 0.29 over 1 year against 0.26 over 3. Stretching to 5 years gives 0.18, with an annualized covariance of 1961.5 %².
VMAR is close to the least connected end of SPRY's tracked universe, ranking #8 of 11. The last year tells two different stories: SPRY led by 44.8 percentage points, -55.1% for SPRY against -99.9% for VMAR. One caveat on sizing: VMAR is 1.6 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.
SPRY vs VMAR: side by side
| SPRY (ARS Pharmaceuticals, Inc.) | VMAR (Vision Marine Technologies Inc.) | |
|---|---|---|
| 1-year return | -55.1% | -99.9% |
| 5-year return | -73.8% | -100.0% |
| Volatility (ann.) | 68.4% | 110.6% |
| Beta vs S&P 500 | 1.73 | 1.13 |
| Max drawdown (3Y) | -72.0% | -100.0% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPRY | VMAR |
|---|---|---|
| 2022 | +28.1% | -4.8% |
| 2023 | -35.8% | -76.4% |
| 2024 | +92.5% | -98.9% |
| 2025 | +10.4% | -98.7% |
| 2026 | -48.2% | -99.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPRY and VMAR good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPRY and VMAR?
The SPRY/VMAR correlation stands at 0.26 on a 3-year window (1 year: 0.29, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is VMAR a good diversifier for SPRY?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spry-vs-vmar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spry-vs-vmar/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPRY correlations · VMAR correlations
