BEAM vs FNGD: Correlation
Beam Therapeutics Inc. (BEAM) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAM and FNGD?
Over the past 3 years, BEAM and FNGD moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.49) sits close to the 3-year figure. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -2126.3 %².
FNGD is close to the least connected end of BEAM's tracked universe, ranking #18 of 20. The last year tells two different stories: BEAM led by 136.5 percentage points, +80.8% for BEAM 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.
BEAM vs FNGD: side by side
| BEAM (Beam Therapeutics Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +80.8% | -55.7% |
| 5-year return | -71.5% | -99.4% |
| Volatility (ann.) | 72.6% | 75.7% |
| Beta vs S&P 500 | 2.39 | -4.54 |
| Max drawdown (3Y) | -67.7% | -97.6% |
| Market cap | $3.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEAM | FNGD |
|---|---|---|
| 2022 | -50.9% | +52.2% |
| 2023 | -30.4% | -90.1% |
| 2024 | -8.9% | -76.6% |
| 2025 | +11.8% | -61.4% |
| 2026 | +10.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAM and FNGD good diversifiers for each other?
Yes. With a correlation of -0.39, BEAM and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BEAM and FNGD?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.49 over the last year and -0.43 over 5 years.
Is FNGD a good diversifier for BEAM?
Yes. With a correlation of -0.39, BEAM and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
A reading of -0.39 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/beam-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/beam-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BEAM correlations · FNGD correlations
