FNGD vs GANX: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Gain Therapeutics, Inc. (GANX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GANX?
On 3 years of weekly data the FNGD/GANX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. The 5-year figure is -0.26, and annualized covariance runs at -1530.4 %².
By 3-year correlation, GANX places #115 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months GANX outperformed by 55.2 percentage points (-55.7% for FNGD against -0.5% for GANX).
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.
FNGD vs GANX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GANX (Gain Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -0.5% |
| 5-year return | -99.4% | -76.4% |
| Volatility (ann.) | 75.7% | 98.1% |
| Beta vs S&P 500 | -4.54 | 1.61 |
| Max drawdown (3Y) | -97.6% | -81.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GANX |
|---|---|---|
| 2022 | +52.2% | -42.4% |
| 2023 | -90.1% | +4.3% |
| 2024 | -76.6% | -33.8% |
| 2025 | -61.4% | +49.1% |
| 2026 | -49.5% | -42.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GANX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and GANX?
As of 2026-08-27, the correlation of weekly returns between FNGD and GANX is -0.21 over 3 years, -0.29 over 1 year and -0.26 over 5 years.
Is GANX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/fngd-vs-ganx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-ganx/)
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Related comparisons
Hubs: FNGD correlations · GANX correlations
