CYRX vs FNGD: Correlation
CryoPort, Inc. (CYRX) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CYRX and FNGD?
On 3 years of weekly data the CYRX/FNGD correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.27). The 5-year figure is -0.43, and annualized covariance runs at -1289.9 %².
Among the 14 assets we track against CYRX, FNGD sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months CYRX outperformed by 144.6 percentage points (+88.9% for CYRX 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.
CYRX vs FNGD: side by side
| CYRX (CryoPort, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +88.9% | -55.7% |
| 5-year return | -73.7% | -99.4% |
| Volatility (ann.) | 62.3% | 75.7% |
| Beta vs S&P 500 | 1.44 | -4.54 |
| Max drawdown (3Y) | -75.0% | -97.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CYRX | FNGD |
|---|---|---|
| 2022 | -70.7% | +52.2% |
| 2023 | -10.7% | -90.1% |
| 2024 | -49.8% | -76.6% |
| 2025 | +23.4% | -61.4% |
| 2026 | +72.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CYRX and FNGD good diversifiers for each other?
Yes. With a correlation of -0.27, CYRX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CYRX and FNGD?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.38 over the last year and -0.43 over 5 years.
Is FNGD a good diversifier for CYRX?
Yes. With a correlation of -0.27, CYRX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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
$ curl https://www.pairbook.io/api/v1/pairs/cyrx-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cyrx-vs-fngd/)
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Related comparisons
Hubs: CYRX correlations · FNGD correlations
