FNGD vs IKT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Inhibikase Therapeutics, Inc. (IKT) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and IKT?
On 3 years of weekly data the FNGD/IKT correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -1334.4 %².
Within FNGD's tracked universe of 1743 assets, IKT comes in at #52 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IKT ahead by 93.7 points (-55.7% versus +38.0%).
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 IKT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IKT (Inhibikase Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +38.0% |
| 5-year return | -99.4% | -81.3% |
| Volatility (ann.) | 75.7% | 94.9% |
| Beta vs S&P 500 | -4.54 | 1.74 |
| Max drawdown (3Y) | -97.6% | -65.4% |
| 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 | IKT |
|---|---|---|
| 2022 | +52.2% | -66.0% |
| 2023 | -90.1% | -57.7% |
| 2024 | -76.6% | +155.9% |
| 2025 | -61.4% | -36.9% |
| 2026 | -49.5% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IKT good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and IKT?
As of 2026-08-27, the correlation of weekly returns between FNGD and IKT is -0.19 over 3 years, -0.18 over 1 year and -0.18 over 5 years.
Is IKT a good diversifier for FNGD?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/fngd-vs-ikt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ikt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · IKT correlations
