CELU vs FNGD: Correlation
How closely do Celularity Inc. (CELU) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CELU and FNGD?
On 3 years of weekly data the CELU/FNGD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.25). The 5-year figure is -0.18, and annualized covariance runs at -3076.3 %².
Out of 13 assets tracked against CELU, FNGD lands near the bottom at #13. The trailing year gives CELU the advantage: -44.7% versus -55.7%, a 11.0-point spread. Note the risk asymmetry: CELU runs 2.2 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.
CELU vs FNGD: side by side
| CELU (Celularity Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -44.7% | -55.7% |
| 5-year return | -97.5% | -99.4% |
| Volatility (ann.) | 165.1% | 75.7% |
| Beta vs S&P 500 | 3.11 | -4.54 |
| Max drawdown (3Y) | -91.4% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CELU | FNGD |
|---|---|---|
| 2022 | -74.8% | +52.2% |
| 2023 | -80.9% | -90.1% |
| 2024 | -15.8% | -76.6% |
| 2025 | -46.6% | -61.4% |
| 2026 | +89.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CELU and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between CELU and FNGD?
The CELU/FNGD correlation stands at -0.25 on a 3-year window (1 year: -0.14, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CELU?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/celu-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/celu-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CELU correlations · FNGD correlations
