DYN vs FNGD: Correlation
How closely do Dyne Therapeutics, Inc. (DYN) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DYN and FNGD?
Across a 3-year window, the weekly returns of DYN and FNGD correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.26, with an annualized covariance of -1770.9 %².
Among the 13 assets we track against DYN, FNGD sits near the bottom by co-movement, at rank #11. The last year tells two different stories: DYN led by 147.0 percentage points, +91.3% for DYN 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.
DYN vs FNGD: side by side
| DYN (Dyne Therapeutics, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +91.3% | -55.7% |
| 5-year return | +58.2% | -99.4% |
| Volatility (ann.) | 78.6% | 75.7% |
| Beta vs S&P 500 | 1.95 | -4.54 |
| Max drawdown (3Y) | -85.5% | -97.6% |
| Market cap | $4.9B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DYN | FNGD |
|---|---|---|
| 2022 | -2.5% | +52.2% |
| 2023 | +14.8% | -90.1% |
| 2024 | +77.1% | -76.6% |
| 2025 | -17.0% | -61.4% |
| 2026 | +33.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DYN and FNGD good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DYN and FNGD?
The DYN/FNGD correlation stands at -0.30 on a 3-year window (1 year: -0.33, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DYN?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/dyn-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dyn-vs-fngd/)
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Related comparisons
Hubs: DYN correlations · FNGD correlations
