FNGD vs INMB: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and INmune Bio Inc. (INMB) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and INMB?
Over the past 3 years, FNGD and INMB moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.47 versus -0.26 over 3 years. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -1507.1 %².
Within FNGD's tracked universe of 1743 assets, INMB comes in at #508 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INMB ahead by 73.1 points (-55.7% versus +17.4%).
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 INMB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | INMB (INmune Bio Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +17.4% |
| 5-year return | -99.4% | -89.4% |
| Volatility (ann.) | 75.7% | 76.1% |
| Beta vs S&P 500 | -4.54 | 1.33 |
| Max drawdown (3Y) | -97.6% | -92.0% |
| 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 | INMB |
|---|---|---|
| 2022 | +52.2% | -37.8% |
| 2023 | -90.1% | +77.6% |
| 2024 | -76.6% | -58.5% |
| 2025 | -61.4% | -66.6% |
| 2026 | -49.5% | +53.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and INMB good diversifiers for each other?
Yes. With a correlation of -0.26, FNGD and INMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and INMB?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.47 over the last year and -0.31 over 5 years.
Is INMB a good diversifier for FNGD?
Yes. With a correlation of -0.26, FNGD and INMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-inmb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-inmb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · INMB correlations
