CLDX vs FNGD: Correlation
Measured on weekly returns over the past three years, Celldex Therapeutics, Inc. (CLDX) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and FNGD?
Over the past 3 years, CLDX and FNGD moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -1309.2 %².
Among the 18 assets we track against CLDX, FNGD sits near the bottom by co-movement, at rank #16. Their recent paths diverged sharply: over the last 12 months CLDX outperformed by 134.7 percentage points (+79.0% for CLDX 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.
CLDX vs FNGD: side by side
| CLDX (Celldex Therapeutics, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +79.0% | -55.7% |
| 5-year return | -21.9% | -99.4% |
| Volatility (ann.) | 59.4% | 75.7% |
| Beta vs S&P 500 | 1.48 | -4.54 |
| Max drawdown (3Y) | -70.8% | -97.6% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDX | FNGD |
|---|---|---|
| 2022 | +15.3% | +52.2% |
| 2023 | -11.0% | -90.1% |
| 2024 | -36.3% | -76.6% |
| 2025 | +7.5% | -61.4% |
| 2026 | +49.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and FNGD good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLDX and FNGD?
As of 2026-08-27, the correlation of weekly returns between CLDX and FNGD is -0.29 over 3 years, -0.34 over 1 year and -0.30 over 5 years.
Is FNGD a good diversifier for CLDX?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cldx-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldx-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDX correlations · FNGD correlations
