COSM vs FNGD: Correlation
How closely do Cosmos Health Inc. (COSM) 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 COSM and FNGD?
Across a 3-year window, the weekly returns of COSM and FNGD correlate at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.25 over 3. Stretching to 5 years gives 0.07, with an annualized covariance of -1930.3 %².
Among the 10 assets we track against COSM, FNGD sits near the bottom by co-movement, at rank #9. The last year tells two different stories: FNGD led by 17.4 percentage points, -73.1% for COSM 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.
COSM vs FNGD: side by side
| COSM (Cosmos Health Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -73.1% | -55.7% |
| 5-year return | -95.1% | -99.4% |
| Volatility (ann.) | 102.9% | 75.7% |
| Beta vs S&P 500 | 2.19 | -4.54 |
| Max drawdown (3Y) | -90.9% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COSM | FNGD |
|---|---|---|
| 2022 | +35.3% | +52.2% |
| 2023 | -69.1% | -90.1% |
| 2024 | -52.6% | -76.6% |
| 2025 | -25.6% | -61.4% |
| 2026 | -56.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COSM 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 COSM and FNGD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.30 over the last year and 0.07 over 5 years.
Is FNGD a good diversifier for COSM?
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?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: COSM correlations · FNGD correlations
