CERS vs FNGD: Correlation
Measured on weekly returns over the past three years, Cerus Corporation (CERS) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CERS and FNGD?
Across a 3-year window, the weekly returns of CERS and FNGD correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.26). Stretching to 5 years gives -0.32, with an annualized covariance of -1383.8 %².
Out of 10 assets tracked against CERS, FNGD lands near the bottom at #8. The last year tells two different stories: CERS led by 163.3 percentage points, +107.6% for CERS 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.
CERS vs FNGD: side by side
| CERS (Cerus Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +107.6% | -55.7% |
| 5-year return | -57.3% | -99.4% |
| Volatility (ann.) | 71.0% | 75.7% |
| Beta vs S&P 500 | 2.01 | -4.54 |
| Max drawdown (3Y) | -52.1% | -97.6% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CERS | FNGD |
|---|---|---|
| 2022 | -46.4% | +52.2% |
| 2023 | -40.8% | -90.1% |
| 2024 | -28.7% | -76.6% |
| 2025 | +33.8% | -61.4% |
| 2026 | +32.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CERS and FNGD good diversifiers for each other?
Yes. With a correlation of -0.26, CERS and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CERS and FNGD?
The CERS/FNGD correlation stands at -0.26 on a 3-year window (1 year: -0.09, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CERS?
Yes. With a correlation of -0.26, CERS and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/cers-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cers-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CERS correlations · FNGD correlations
