EPRX vs FNGD: Correlation
Eupraxia Pharmaceuticals Inc. (EPRX) 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 EPRX and FNGD?
Across a 3-year window, the weekly returns of EPRX and FNGD correlate at -0.27, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1051.1 %².
FNGD is close to the least connected end of EPRX's tracked universe, ranking #11 of 13. The last year tells two different stories: EPRX led by 95.1 percentage points, +39.4% for EPRX against -55.7% for FNGD. One caveat on sizing: FNGD is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EPRX vs FNGD: side by side
| EPRX (Eupraxia Pharmaceuticals Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +39.4% | -55.7% |
| 5-year return | n/a | -99.4% |
| Volatility (ann.) | 49.2% | 75.7% |
| Beta vs S&P 500 | 1.06 | -4.54 |
| Max drawdown (3Y) | -35.9% | -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 | EPRX | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | – | -90.1% |
| 2024 | – | -76.6% |
| 2025 | +138.2% | -61.4% |
| 2026 | -2.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPRX and FNGD good diversifiers for each other?
Yes. With a correlation of -0.27, EPRX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EPRX and FNGD?
As of 2026-08-27, the correlation of weekly returns between EPRX and FNGD is -0.27 over 3 years, -0.31 over 1 year and n/a over 5 years.
Is FNGD a good diversifier for EPRX?
Yes. With a correlation of -0.27, EPRX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/eprx-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eprx-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EPRX correlations · FNGD correlations
