AURA vs FNGD: Correlation
Aura Biosciences, Inc. (AURA) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AURA and FNGD?
Over the past 3 years, AURA and FNGD moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -1510.6 %².
FNGD is close to the least connected end of AURA's tracked universe, ranking #16 of 18. Correlation aside, the last 12 months split them widely, with AURA ahead by 75.3 points (+19.6% 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.
AURA vs FNGD: side by side
| AURA (Aura Biosciences, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +19.6% | -55.7% |
| 5-year return | -48.0% | -99.4% |
| Volatility (ann.) | 70.5% | 75.7% |
| Beta vs S&P 500 | 2.01 | -4.54 |
| Max drawdown (3Y) | -59.1% | -97.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AURA | FNGD |
|---|---|---|
| 2022 | -38.2% | +52.2% |
| 2023 | -15.6% | -90.1% |
| 2024 | -7.2% | -76.6% |
| 2025 | -33.7% | -61.4% |
| 2026 | +41.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AURA and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between AURA and FNGD?
The AURA/FNGD correlation stands at -0.28 on a 3-year window (1 year: -0.35, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AURA?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 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/aura-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aura-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AURA correlations · FNGD correlations
