BLFS vs FNGD: Correlation
How closely do BioLife Solutions, Inc. (BLFS) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLFS and FNGD?
Across a 3-year window, the weekly returns of BLFS and FNGD correlate at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.33 over 3 years. Stretching to 5 years gives -0.47, with an annualized covariance of -1244.3 %².
Out of 15 assets tracked against BLFS, FNGD lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months BLFS outperformed by 102.0 percentage points (+46.3% for BLFS against -55.7% for FNGD). Note the risk asymmetry: FNGD runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BLFS vs FNGD: side by side
| BLFS (BioLife Solutions, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +46.3% | -55.7% |
| 5-year return | -36.2% | -99.4% |
| Volatility (ann.) | 50.1% | 75.7% |
| Beta vs S&P 500 | 1.66 | -4.54 |
| Max drawdown (3Y) | -37.0% | -97.6% |
| Market cap | $1.8B | – |
| P/E (trailing) | 37.2 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLFS | FNGD |
|---|---|---|
| 2022 | -51.2% | +52.2% |
| 2023 | -10.7% | -90.1% |
| 2024 | +59.8% | -76.6% |
| 2025 | -6.9% | -61.4% |
| 2026 | +53.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLFS and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between BLFS and FNGD?
The BLFS/FNGD correlation stands at -0.33 on a 3-year window (1 year: -0.06, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for BLFS?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
A reading of -0.33 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: BLFS correlations · FNGD correlations
