EDIT vs FNGD: Correlation
How closely do Editas Medicine, Inc. (EDIT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDIT and FNGD?
On 3 years of weekly data the EDIT/FNGD correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. The 5-year figure is -0.42, and annualized covariance runs at -2166.9 %².
Out of 22 assets tracked against EDIT, FNGD lands near the bottom at #21. Correlation aside, the last 12 months split them widely, with EDIT ahead by 79.3 points (+23.6% 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.
EDIT vs FNGD: side by side
| EDIT (Editas Medicine, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +23.6% | -55.7% |
| 5-year return | -94.7% | -99.4% |
| Volatility (ann.) | 86.8% | 75.7% |
| Beta vs S&P 500 | 2.56 | -4.54 |
| Max drawdown (3Y) | -91.2% | -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 | EDIT | FNGD |
|---|---|---|
| 2022 | -66.6% | +52.2% |
| 2023 | +14.2% | -90.1% |
| 2024 | -87.5% | -76.6% |
| 2025 | +61.4% | -61.4% |
| 2026 | +61.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDIT and FNGD good diversifiers for each other?
Yes. With a correlation of -0.33, EDIT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EDIT and FNGD?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.43 over the last year and -0.42 over 5 years.
Is FNGD a good diversifier for EDIT?
Yes. With a correlation of -0.33, EDIT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/edit-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/edit-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EDIT correlations · FNGD correlations
