CRBU vs FNGD: Correlation
Caribou Biosciences, Inc. (CRBU) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRBU and FNGD?
Over the past 3 years, CRBU and FNGD moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.36 over 3. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -2172.0 %².
Among the 17 assets we track against CRBU, FNGD sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with CRBU ahead by 39.5 points (-16.2% versus -55.7%).
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.
CRBU vs FNGD: side by side
| CRBU (Caribou Biosciences, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -16.2% | -55.7% |
| 5-year return | -93.2% | -99.4% |
| Volatility (ann.) | 80.5% | 75.7% |
| Beta vs S&P 500 | 2.52 | -4.54 |
| Max drawdown (3Y) | -91.1% | -97.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRBU | FNGD |
|---|---|---|
| 2022 | -58.4% | +52.2% |
| 2023 | -8.8% | -90.1% |
| 2024 | -72.3% | -76.6% |
| 2025 | +0.0% | -61.4% |
| 2026 | +4.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRBU and FNGD good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRBU and FNGD?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.39 over the last year and -0.36 over 5 years.
Is FNGD a good diversifier for CRBU?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/crbu-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crbu-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRBU correlations · FNGD correlations
