FNGD vs KYMR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Kymera Therapeutics, Inc. (KYMR) 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 KYMR?
Over the past 3 years, FNGD and KYMR moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.28 over 3 years. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -1566.3 %².
By 3-year correlation, KYMR places #703 of the 1743 assets tracked against FNGD. The last year tells two different stories: KYMR led by 240.2 percentage points, -55.7% for FNGD against +184.5% for KYMR.
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 KYMR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KYMR (Kymera Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +184.5% |
| 5-year return | -99.4% | +96.7% |
| Volatility (ann.) | 75.7% | 74.1% |
| Beta vs S&P 500 | -4.54 | 2.12 |
| Max drawdown (3Y) | -97.6% | -59.8% |
| Market cap | – | $9.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | KYMR |
|---|---|---|
| 2022 | +52.2% | -60.7% |
| 2023 | -90.1% | +2.0% |
| 2024 | -76.6% | +58.0% |
| 2025 | -61.4% | +93.4% |
| 2026 | -49.5% | +54.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KYMR good diversifiers for each other?
Yes. With a correlation of -0.28, FNGD and KYMR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and KYMR?
The FNGD/KYMR correlation stands at -0.28 on a 3-year window (1 year: -0.02, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is KYMR a good diversifier for FNGD?
Yes. With a correlation of -0.28, FNGD and KYMR 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.
Use this data
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Related comparisons
Hubs: FNGD correlations · KYMR correlations
