FNGD vs KPRX: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Kiora Pharmaceuticals, Inc. (KPRX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and KPRX?
Over the past 3 years, FNGD and KPRX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1307.1 %².
By 3-year correlation, KPRX places #702 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months KPRX outperformed by 48.7 percentage points (-55.7% for FNGD against -7.0% for KPRX).
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 KPRX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KPRX (Kiora Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -7.0% |
| 5-year return | -99.4% | -99.6% |
| Volatility (ann.) | 75.7% | 60.9% |
| Beta vs S&P 500 | -4.54 | 1.09 |
| Max drawdown (3Y) | -97.6% | -76.5% |
| 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 | KPRX |
|---|---|---|
| 2022 | +52.2% | -94.3% |
| 2023 | -90.1% | -84.8% |
| 2024 | -76.6% | -29.8% |
| 2025 | -61.4% | -40.3% |
| 2026 | -49.5% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KPRX good diversifiers for each other?
Yes. With a correlation of -0.28, FNGD and KPRX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and KPRX?
The FNGD/KPRX correlation stands at -0.28 on a 3-year window (1 year: -0.30, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is KPRX a good diversifier for FNGD?
Yes. With a correlation of -0.28, FNGD and KPRX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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.
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Related comparisons
Hubs: FNGD correlations · KPRX correlations
