ATOS vs FNGD: Correlation
How closely do Atossa Therapeutics, Inc. (ATOS) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATOS and FNGD?
Over the past 3 years, ATOS and FNGD moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -2079.3 %².
FNGD is close to the least connected end of ATOS's tracked universe, ranking #14 of 14. Correlation aside, the last 12 months split them widely, with FNGD ahead by 21.1 points (-76.8% versus -55.7%).
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.
ATOS vs FNGD: side by side
| ATOS (Atossa Therapeutics, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -76.8% | -55.7% |
| 5-year return | -95.0% | -99.4% |
| Volatility (ann.) | 73.3% | 75.7% |
| Beta vs S&P 500 | 1.97 | -4.54 |
| Max drawdown (3Y) | -94.4% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATOS | FNGD |
|---|---|---|
| 2022 | -66.9% | +52.2% |
| 2023 | +66.0% | -90.1% |
| 2024 | +6.8% | -76.6% |
| 2025 | -37.2% | -61.4% |
| 2026 | -70.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATOS and FNGD good diversifiers for each other?
Yes. With a correlation of -0.37, ATOS and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ATOS and FNGD?
As of 2026-08-27, the correlation of weekly returns between ATOS and FNGD is -0.37 over 3 years, -0.39 over 1 year and -0.38 over 5 years.
Is FNGD a good diversifier for ATOS?
Yes. With a correlation of -0.37, ATOS and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 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/atos-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atos-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATOS correlations · FNGD correlations
