ADPT vs FNGD: Correlation
Measured on weekly returns over the past three years, Adaptive Biotechnologies Corporation (ADPT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADPT and FNGD?
Over the past 3 years, ADPT and FNGD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.00) than the 3-year average (-0.22). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -1166.8 %².
Among the 12 assets we track against ADPT, FNGD sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months ADPT outperformed by 159.6 percentage points (+103.9% for ADPT against -55.7% for FNGD).
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.
ADPT vs FNGD: side by side
| ADPT (Adaptive Biotechnologies Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +103.9% | -55.7% |
| 5-year return | -26.1% | -99.4% |
| Volatility (ann.) | 69.8% | 75.7% |
| Beta vs S&P 500 | 1.40 | -4.54 |
| Max drawdown (3Y) | -65.8% | -97.6% |
| Market cap | $4.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADPT | FNGD |
|---|---|---|
| 2022 | -72.8% | +52.2% |
| 2023 | -35.9% | -90.1% |
| 2024 | +22.3% | -76.6% |
| 2025 | +170.9% | -61.4% |
| 2026 | +62.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADPT and FNGD good diversifiers for each other?
Yes. With a correlation of -0.22, ADPT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ADPT and FNGD?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.00 over the last year and -0.36 over 5 years.
Is FNGD a good diversifier for ADPT?
Yes. With a correlation of -0.22, ADPT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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
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Related comparisons
Hubs: ADPT correlations · FNGD correlations
