FNGD vs MBOT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Microbot Medical Inc. (MBOT) 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 MBOT?
Across a 3-year window, the weekly returns of FNGD and MBOT correlate at -0.31, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.31 over 3. Stretching to 5 years gives -0.31, with an annualized covariance of -2284.4 %².
By 3-year correlation, MBOT places #904 of the 1743 assets tracked against FNGD. Over the last 12 months FNGD came out ahead by 7.4 percentage points (-55.7% against -63.1%).
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 MBOT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MBOT (Microbot Medical Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -63.1% |
| 5-year return | -99.4% | -79.9% |
| Volatility (ann.) | 75.7% | 97.0% |
| Beta vs S&P 500 | -4.54 | 1.83 |
| Max drawdown (3Y) | -97.6% | -67.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MBOT |
|---|---|---|
| 2022 | +52.2% | -59.9% |
| 2023 | -90.1% | -45.5% |
| 2024 | -76.6% | -31.7% |
| 2025 | -61.4% | +78.6% |
| 2026 | -49.5% | -25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MBOT good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MBOT?
The FNGD/MBOT correlation stands at -0.31 on a 3-year window (1 year: -0.29, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is MBOT a good diversifier for FNGD?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
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-mbot.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-mbot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · MBOT correlations
