FNGD vs LRMR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Larimar Therapeutics, Inc. (LRMR) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LRMR?
Across a 3-year window, the weekly returns of FNGD and LRMR correlate at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.18 over 3. Stretching to 5 years gives -0.16, with an annualized covariance of -1420.2 %².
Within FNGD's tracked universe of 1743 assets, LRMR comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LRMR ahead by 59.5 points (-55.7% versus +3.8%).
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 LRMR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LRMR (Larimar Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +3.8% |
| 5-year return | -99.4% | -71.6% |
| Volatility (ann.) | 75.7% | 101.9% |
| Beta vs S&P 500 | -4.54 | 1.81 |
| Max drawdown (3Y) | -97.6% | -87.1% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LRMR |
|---|---|---|
| 2022 | +52.2% | -61.7% |
| 2023 | -90.1% | +10.2% |
| 2024 | -76.6% | -14.9% |
| 2025 | -61.4% | -1.6% |
| 2026 | -49.5% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LRMR good diversifiers for each other?
Yes. With a correlation of -0.18, FNGD and LRMR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and LRMR?
As of 2026-08-27, the correlation of weekly returns between FNGD and LRMR is -0.18 over 3 years, -0.12 over 1 year and -0.16 over 5 years.
Is LRMR a good diversifier for FNGD?
Yes. With a correlation of -0.18, FNGD and LRMR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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-lrmr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-lrmr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · LRMR correlations
