FNGD vs LTRN: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lantern Pharma Inc. (LTRN) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LTRN?
Across a 3-year window, the weekly returns of FNGD and LTRN correlate at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.31 over 3 years. Stretching to 5 years gives -0.29, with an annualized covariance of -2425.0 %².
Within FNGD's tracked universe of 1743 assets, LTRN comes in at #902 by 3-year correlation. The trailing year gives LTRN the advantage: -55.7% versus -46.7%, a 9.0-point spread.
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 LTRN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LTRN (Lantern Pharma Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -46.7% |
| 5-year return | -99.4% | -84.2% |
| Volatility (ann.) | 75.7% | 104.8% |
| Beta vs S&P 500 | -4.54 | 2.39 |
| Max drawdown (3Y) | -97.6% | -89.5% |
| 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 | LTRN |
|---|---|---|
| 2022 | +52.2% | -24.3% |
| 2023 | -90.1% | -29.1% |
| 2024 | -76.6% | -25.5% |
| 2025 | -61.4% | -5.0% |
| 2026 | -49.5% | -28.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LTRN good diversifiers for each other?
Yes. With a correlation of -0.31, FNGD and LTRN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and LTRN?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.46 over the last year and -0.29 over 5 years.
Is LTRN a good diversifier for FNGD?
Yes. With a correlation of -0.31, FNGD and LTRN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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-ltrn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-ltrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · LTRN correlations
