FNGD vs HUMA: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Humacyte, Inc. (HUMA) 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 FNGD and HUMA?
Across a 3-year window, the weekly returns of FNGD and HUMA correlate at -0.33, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.33). Stretching to 5 years gives -0.32, with an annualized covariance of -2561.2 %².
By 3-year correlation, HUMA places #1037 of the 1743 assets tracked against FNGD. Neither side won the trailing year by much: -55.7% against -54.7%.
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.
FNGD vs HUMA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HUMA (Humacyte, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -54.7% |
| 5-year return | -99.4% | -94.8% |
| Volatility (ann.) | 75.7% | 103.1% |
| Beta vs S&P 500 | -4.54 | 2.71 |
| Max drawdown (3Y) | -97.6% | -94.2% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | HUMA |
|---|---|---|
| 2022 | +52.2% | -70.9% |
| 2023 | -90.1% | +34.6% |
| 2024 | -76.6% | +77.8% |
| 2025 | -61.4% | -81.0% |
| 2026 | -49.5% | -27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HUMA good diversifiers for each other?
Yes. With a correlation of -0.33, FNGD and HUMA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and HUMA?
As of 2026-08-27, the correlation of weekly returns between FNGD and HUMA is -0.33 over 3 years, -0.46 over 1 year and -0.32 over 5 years.
Is HUMA a good diversifier for FNGD?
Yes. With a correlation of -0.33, FNGD and HUMA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 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-huma.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-huma/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · HUMA correlations
