DNA vs FNGD: Correlation
Ginkgo Bioworks Holdings, Inc. (DNA) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNA and FNGD?
Across a 3-year window, the weekly returns of DNA and FNGD correlate at -0.34, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -2617.3 %².
Out of 13 assets tracked against DNA, FNGD lands near the bottom at #13. The trailing year gives DNA the advantage: -41.2% versus -55.7%, a 14.5-point spread.
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.
DNA vs FNGD: side by side
| DNA (Ginkgo Bioworks Holdings, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -41.2% | -55.7% |
| 5-year return | -98.2% | -99.4% |
| Volatility (ann.) | 100.2% | 75.7% |
| Beta vs S&P 500 | 2.77 | -4.54 |
| Max drawdown (3Y) | -94.3% | -97.6% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNA | FNGD |
|---|---|---|
| 2022 | -79.7% | +52.2% |
| 2023 | +0.0% | -90.1% |
| 2024 | -85.5% | -76.6% |
| 2025 | -15.4% | -61.4% |
| 2026 | -12.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNA and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between DNA and FNGD?
The DNA/FNGD correlation stands at -0.34 on a 3-year window (1 year: -0.25, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DNA?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/dna-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dna-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNA correlations · FNGD correlations
