FNGD vs JSPR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Jasper Therapeutics, Inc. (JSPR) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and JSPR?
On 3 years of weekly data the FNGD/JSPR correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. The 5-year figure is -0.26, and annualized covariance runs at -3151.5 %².
By 3-year correlation, JSPR places #1189 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with FNGD ahead by 20.2 points (-55.7% versus -75.9%). Note the risk asymmetry: JSPR runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 JSPR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | JSPR (Jasper Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -75.9% |
| 5-year return | -99.4% | -99.3% |
| Volatility (ann.) | 75.7% | 114.2% |
| Beta vs S&P 500 | -4.54 | 2.78 |
| Max drawdown (3Y) | -97.6% | -98.9% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | JSPR |
|---|---|---|
| 2022 | +52.2% | -93.8% |
| 2023 | -90.1% | +63.4% |
| 2024 | -76.6% | +171.0% |
| 2025 | -61.4% | -91.4% |
| 2026 | -49.5% | -61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and JSPR good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and JSPR?
The FNGD/JSPR correlation stands at -0.36 on a 3-year window (1 year: -0.35, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is JSPR a good diversifier for FNGD?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
A reading of -0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-jspr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-jspr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · JSPR correlations
