CVM vs FNGD: Correlation
Measured on weekly returns over the past three years, Cel-Sci Corporation (CVM) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVM and FNGD?
On 3 years of weekly data the CVM/FNGD correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.23 over 3 years. The 5-year figure is -0.26, and annualized covariance runs at -2214.7 %².
Among the 10 assets we track against CVM, FNGD sits near the bottom by co-movement, at rank #10. The last year tells two different stories: FNGD led by 32.0 percentage points, -87.7% for CVM against -55.7% for FNGD. Risk is not evenly split, since CVM carries 1.7 times the volatility of the other side.
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.
CVM vs FNGD: side by side
| CVM (Cel-Sci Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -87.7% | -55.7% |
| 5-year return | -99.5% | -99.4% |
| Volatility (ann.) | 126.6% | 75.7% |
| Beta vs S&P 500 | 2.35 | -4.54 |
| Max drawdown (3Y) | -99.0% | -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 | CVM | FNGD |
|---|---|---|
| 2022 | -66.9% | +52.2% |
| 2023 | +15.7% | -90.1% |
| 2024 | -85.3% | -76.6% |
| 2025 | -56.2% | -61.4% |
| 2026 | -69.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVM and FNGD good diversifiers for each other?
Yes. With a correlation of -0.23, CVM and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CVM and FNGD?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.34 over the last year and -0.26 over 5 years.
Is FNGD a good diversifier for CVM?
Yes. With a correlation of -0.23, CVM and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: CVM correlations · FNGD correlations
