CERT vs FNGD: Correlation
How closely do Certara, Inc. (CERT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CERT and FNGD?
On 3 years of weekly data the CERT/FNGD correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. The 5-year figure is -0.44, and annualized covariance runs at -1523.5 %².
Among the 13 assets we track against CERT, FNGD sits near the bottom by co-movement, at rank #13. The last year tells two different stories: CERT led by 32.4 percentage points, -23.3% for CERT 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.
CERT vs FNGD: side by side
| CERT (Certara, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -23.3% | -55.7% |
| 5-year return | -74.4% | -99.4% |
| Volatility (ann.) | 56.7% | 75.7% |
| Beta vs S&P 500 | 1.49 | -4.54 |
| Max drawdown (3Y) | -77.0% | -97.6% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CERT | FNGD |
|---|---|---|
| 2022 | -43.5% | +52.2% |
| 2023 | +9.5% | -90.1% |
| 2024 | -39.5% | -76.6% |
| 2025 | -17.3% | -61.4% |
| 2026 | -4.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CERT and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between CERT and FNGD?
As of 2026-08-27, the correlation of weekly returns between CERT and FNGD is -0.35 over 3 years, -0.36 over 1 year and -0.44 over 5 years.
Is FNGD a good diversifier for CERT?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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.
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Related comparisons
Hubs: CERT correlations · FNGD correlations
