FNGD vs GLSI: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Greenwich LifeSciences, Inc. (GLSI) 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 FNGD and GLSI?
On 3 years of weekly data the FNGD/GLSI correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.29, and annualized covariance runs at -1494.9 %².
Within FNGD's tracked universe of 1743 assets, GLSI comes in at #599 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GLSI ahead by 116.2 points (-55.7% versus +60.5%).
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 GLSI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GLSI (Greenwich LifeSciences, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +60.5% |
| 5-year return | -99.4% | -52.7% |
| Volatility (ann.) | 75.7% | 73.1% |
| Beta vs S&P 500 | -4.54 | 1.76 |
| Max drawdown (3Y) | -97.6% | -61.9% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GLSI |
|---|---|---|
| 2022 | +52.2% | -37.5% |
| 2023 | -90.1% | -30.8% |
| 2024 | -76.6% | +6.7% |
| 2025 | -61.4% | +87.1% |
| 2026 | -49.5% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GLSI good diversifiers for each other?
Yes. With a correlation of -0.27, FNGD and GLSI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and GLSI?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.22 over the last year and -0.29 over 5 years.
Is GLSI a good diversifier for FNGD?
Yes. With a correlation of -0.27, FNGD and GLSI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-glsi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-glsi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · GLSI correlations
