ASMB vs FNGD: Correlation
Measured on weekly returns over the past three years, Assembly Biosciences, Inc. (ASMB) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASMB and FNGD?
On 3 years of weekly data the ASMB/FNGD correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. The 5-year figure is -0.24, and annualized covariance runs at -930.7 %².
Among the 11 assets we track against ASMB, FNGD sits near the bottom by co-movement, at rank #10. The last year tells two different stories: ASMB led by 90.1 percentage points, +34.4% for ASMB 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.
ASMB vs FNGD: side by side
| ASMB (Assembly Biosciences, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +34.4% | -55.7% |
| 5-year return | -21.2% | -99.4% |
| Volatility (ann.) | 61.8% | 75.7% |
| Beta vs S&P 500 | 1.09 | -4.54 |
| Max drawdown (3Y) | -57.5% | -97.6% |
| Market cap | $0.7B | – |
| P/E (trailing) | 28.5 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASMB | FNGD |
|---|---|---|
| 2022 | -44.2% | +52.2% |
| 2023 | -36.9% | -90.1% |
| 2024 | +60.4% | -76.6% |
| 2025 | +115.5% | -61.4% |
| 2026 | +2.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASMB and FNGD good diversifiers for each other?
Yes. With a correlation of -0.20, ASMB and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASMB and FNGD?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.15 over the last year and -0.24 over 5 years.
Is FNGD a good diversifier for ASMB?
Yes. With a correlation of -0.20, ASMB and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/asmb-vs-fngd.json
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[](https://www.pairbook.io/pair/asmb-vs-fngd/)
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Related comparisons
Hubs: ASMB correlations · FNGD correlations
