CD vs FGNX: Correlation
How closely do Chaince Digital Holdings Inc. - American (CD) and FG Nexus Inc. (FGNX) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CD and FGNX?
Across a 3-year window, the weekly returns of CD and FGNX correlate at 0.35, moderate. The past 12 months show a weaker link (-0.00) than the 3-year average (0.35). Stretching to 5 years gives 0.30, with an annualized covariance of 7074.2 %².
By 3-year correlation, FGNX places #7 of the 15 assets tracked against CD. Their recent paths diverged sharply: over the last 12 months CD outperformed by 47.7 percentage points (-39.8% for CD against -87.5% for FGNX). Risk is not evenly split, since CD carries 1.8 times the volatility of the other side.
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.
CD vs FGNX: side by side
| CD (Chaince Digital Holdings Inc. - American) | FGNX (FG Nexus Inc.) | |
|---|---|---|
| 1-year return | -39.8% | -87.5% |
| 5-year return | +1.2% | -98.8% |
| Volatility (ann.) | 189.9% | 105.1% |
| Beta vs S&P 500 | 1.02 | -0.07 |
| Max drawdown (3Y) | -92.6% | -97.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CD | FGNX |
|---|---|---|
| 2022 | -64.8% | -24.2% |
| 2023 | +109.5% | -43.9% |
| 2024 | +162.7% | -45.5% |
| 2025 | -27.2% | -87.4% |
| 2026 | -31.2% | -42.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CD and FGNX good diversifiers for each other?
Reasonably. At 0.35, CD and FGNX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CD and FGNX?
As of 2026-08-27, the correlation of weekly returns between CD and FGNX is 0.35 over 3 years, -0.00 over 1 year and 0.30 over 5 years.
Is FGNX a good diversifier for CD?
Reasonably. At 0.35, CD and FGNX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cd-vs-fgnx.json
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Related comparisons
Hubs: CD correlations · FGNX correlations
