ACAD vs FNGD: Correlation
ACADIA Pharmaceuticals Inc. (ACAD) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACAD and FNGD?
On 3 years of weekly data the ACAD/FNGD correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.24 over 3. The 5-year figure is -0.24, and annualized covariance runs at -890.9 %².
FNGD is close to the least connected end of ACAD's tracked universe, ranking #13 of 15. Correlation aside, the last 12 months split them widely, with ACAD ahead by 67.6 points (+11.9% versus -55.7%). Note the risk asymmetry: FNGD runs 1.6 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.
ACAD vs FNGD: side by side
| ACAD (ACADIA Pharmaceuticals Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +11.9% | -55.7% |
| 5-year return | +75.2% | -99.4% |
| Volatility (ann.) | 48.8% | 75.7% |
| Beta vs S&P 500 | 1.18 | -4.54 |
| Max drawdown (3Y) | -55.6% | -97.6% |
| Market cap | $5.1B | – |
| P/E (trailing) | 13.3 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACAD | FNGD |
|---|---|---|
| 2022 | -31.8% | +52.2% |
| 2023 | +96.7% | -90.1% |
| 2024 | -41.4% | -76.6% |
| 2025 | +45.6% | -61.4% |
| 2026 | +11.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACAD and FNGD good diversifiers for each other?
Yes. With a correlation of -0.24, ACAD and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACAD and FNGD?
The ACAD/FNGD correlation stands at -0.24 on a 3-year window (1 year: -0.26, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ACAD?
Yes. With a correlation of -0.24, ACAD and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/acad-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acad-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACAD correlations · FNGD correlations
