FNGD vs IMNM: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Immunome, Inc. (IMNM) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and IMNM?
Over the past 3 years, FNGD and IMNM moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1429.5 %².
Among the 1743 assets we track against FNGD, IMNM ranks #425 by 3-year correlation. The last year tells two different stories: IMNM led by 245.9 percentage points, -55.7% for FNGD against +190.2% for IMNM.
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 IMNM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IMNM (Immunome, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +190.2% |
| 5-year return | -99.4% | +102.5% |
| Volatility (ann.) | 75.7% | 75.1% |
| Beta vs S&P 500 | -4.54 | 1.55 |
| Max drawdown (3Y) | -97.6% | -79.7% |
| Market cap | – | $3.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | IMNM |
|---|---|---|
| 2022 | +52.2% | -82.9% |
| 2023 | -90.1% | +384.2% |
| 2024 | -76.6% | -0.7% |
| 2025 | -61.4% | +102.3% |
| 2026 | -49.5% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IMNM good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and IMNM?
The FNGD/IMNM correlation stands at -0.25 on a 3-year window (1 year: -0.21, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is IMNM a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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-imnm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-imnm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · IMNM correlations
