FNGD vs LWLG: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lightwave Logic, Inc. (LWLG) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LWLG?
Across a 3-year window, the weekly returns of FNGD and LWLG correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.31, with an annualized covariance of -2005.8 %².
Within FNGD's tracked universe of 1743 assets, LWLG comes in at #345 by 3-year correlation. The last year tells two different stories: LWLG led by 118.8 percentage points, -55.7% for FNGD against +63.1% for LWLG.
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 LWLG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LWLG (Lightwave Logic, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +63.1% |
| 5-year return | -99.4% | -48.5% |
| Volatility (ann.) | 75.7% | 110.8% |
| Beta vs S&P 500 | -4.54 | 2.43 |
| Max drawdown (3Y) | -97.6% | -87.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LWLG |
|---|---|---|
| 2022 | +52.2% | -71.0% |
| 2023 | -90.1% | +15.5% |
| 2024 | -76.6% | -57.8% |
| 2025 | -61.4% | +54.3% |
| 2026 | -49.5% | +81.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LWLG good diversifiers for each other?
Yes. With a correlation of -0.24, FNGD and LWLG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and LWLG?
The FNGD/LWLG correlation stands at -0.24 on a 3-year window (1 year: -0.21, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is LWLG a good diversifier for FNGD?
Yes. With a correlation of -0.24, FNGD and LWLG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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 · LWLG correlations
