COYA vs FNGD: Correlation
How closely do Coya Therapeutics, Inc. (COYA) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COYA and FNGD?
Across a 3-year window, the weekly returns of COYA and FNGD correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -1005.7 %².
Out of 12 assets tracked against COYA, FNGD lands near the bottom at #10. The last year tells two different stories: COYA led by 29.8 percentage points, -25.9% for COYA 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.
COYA vs FNGD: side by side
| COYA (Coya Therapeutics, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -25.9% | -55.7% |
| 5-year return | n/a | -99.4% |
| Volatility (ann.) | 66.2% | 75.7% |
| Beta vs S&P 500 | 1.33 | -4.54 |
| Max drawdown (3Y) | -62.9% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COYA | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | +56.4% | -90.1% |
| 2024 | -22.7% | -76.6% |
| 2025 | +1.2% | -61.4% |
| 2026 | -16.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COYA and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between COYA and FNGD?
The COYA/FNGD correlation stands at -0.20 on a 3-year window (1 year: -0.23, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for COYA?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
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/coya-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coya-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COYA correlations · FNGD correlations
