CGEN vs FNGD: Correlation
Measured on weekly returns over the past three years, Compugen Ltd. (CGEN) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGEN and FNGD?
Across a 3-year window, the weekly returns of CGEN and FNGD correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.20). Stretching to 5 years gives -0.28, with an annualized covariance of -1426.3 %².
Among the 18 assets we track against CGEN, FNGD sits near the bottom by co-movement, at rank #18. The last year tells two different stories: CGEN led by 143.5 percentage points, +87.8% for CGEN 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.
CGEN vs FNGD: side by side
| CGEN (Compugen Ltd.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +87.8% | -55.7% |
| 5-year return | -59.2% | -99.4% |
| Volatility (ann.) | 95.6% | 75.7% |
| Beta vs S&P 500 | 1.63 | -4.54 |
| Max drawdown (3Y) | -60.0% | -97.6% |
| Market cap | $0.3B | – |
| P/E (trailing) | 7.3 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGEN | FNGD |
|---|---|---|
| 2022 | -83.3% | +52.2% |
| 2023 | +175.0% | -90.1% |
| 2024 | -22.7% | -76.6% |
| 2025 | +0.0% | -61.4% |
| 2026 | +80.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGEN and FNGD good diversifiers for each other?
Yes. With a correlation of -0.20, CGEN and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CGEN and FNGD?
The CGEN/FNGD correlation stands at -0.20 on a 3-year window (1 year: -0.32, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CGEN?
Yes. With a correlation of -0.20, CGEN and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/cgen-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgen-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGEN correlations · FNGD correlations
