ARCT vs FNGD: Correlation
How closely do Arcturus Therapeutics Holdings Inc. (ARCT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARCT and FNGD?
Across a 3-year window, the weekly returns of ARCT and FNGD correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.35, with an annualized covariance of -2220.4 %².
FNGD is close to the least connected end of ARCT's tracked universe, ranking #12 of 14. The last year tells two different stories: ARCT led by 49.2 percentage points, -6.5% for ARCT 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.
ARCT vs FNGD: side by side
| ARCT (Arcturus Therapeutics Holdings Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -6.5% | -55.7% |
| 5-year return | -69.9% | -99.4% |
| Volatility (ann.) | 90.6% | 75.7% |
| Beta vs S&P 500 | 2.39 | -4.54 |
| Max drawdown (3Y) | -87.5% | -97.6% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARCT | FNGD |
|---|---|---|
| 2022 | -54.2% | +52.2% |
| 2023 | +85.9% | -90.1% |
| 2024 | -46.2% | -76.6% |
| 2025 | -63.9% | -61.4% |
| 2026 | +163.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCT and FNGD good diversifiers for each other?
Yes. With a correlation of -0.32, ARCT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARCT and FNGD?
As of 2026-08-27, the correlation of weekly returns between ARCT and FNGD is -0.32 over 3 years, -0.27 over 1 year and -0.35 over 5 years.
Is FNGD a good diversifier for ARCT?
Yes. With a correlation of -0.32, ARCT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
A reading of -0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arct-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arct-vs-fngd/)
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Related comparisons
Hubs: ARCT correlations · FNGD correlations
