AVBP vs FNGD: Correlation
Measured on weekly returns over the past three years, ArriVent BioPharma, Inc. (AVBP) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVBP and FNGD?
On 3 years of weekly data the AVBP/FNGD correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.27 over 3. The 5-year figure is n/a, and annualized covariance runs at -1123.8 %².
FNGD is close to the least connected end of AVBP's tracked universe, ranking #17 of 17. The last year tells two different stories: AVBP led by 117.1 percentage points, +61.4% for AVBP 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.
AVBP vs FNGD: side by side
| AVBP (ArriVent BioPharma, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +61.4% | -55.7% |
| 5-year return | n/a | -99.4% |
| Volatility (ann.) | 52.7% | 75.7% |
| Beta vs S&P 500 | 1.06 | -4.54 |
| Max drawdown (3Y) | -54.3% | -97.6% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVBP | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | – | -90.1% |
| 2024 | – | -76.6% |
| 2025 | -24.5% | -61.4% |
| 2026 | +54.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVBP and FNGD good diversifiers for each other?
Yes. With a correlation of -0.27, AVBP and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AVBP and FNGD?
As of 2026-08-27, the correlation of weekly returns between AVBP and FNGD is -0.27 over 3 years, -0.32 over 1 year and n/a over 5 years.
Is FNGD a good diversifier for AVBP?
Yes. With a correlation of -0.27, AVBP and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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
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Related comparisons
Hubs: AVBP correlations · FNGD correlations
