FNGD vs NAMS: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and NewAmsterdam Pharma Company N.V. (NAMS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NAMS?
Over the past 3 years, FNGD and NAMS moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.23). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1290.8 %².
By 3-year correlation, NAMS places #259 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with NAMS ahead by 65.2 points (-55.7% versus +9.5%).
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 NAMS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NAMS (NewAmsterdam Pharma Company N.V.) | |
|---|---|---|
| 1-year return | -55.7% | +9.5% |
| 5-year return | -99.4% | +177.3% |
| Volatility (ann.) | 75.7% | 74.2% |
| Beta vs S&P 500 | -4.54 | 1.73 |
| Max drawdown (3Y) | -97.6% | -45.4% |
| Market cap | – | $3.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NAMS |
|---|---|---|
| 2022 | +52.2% | +11.8% |
| 2023 | -90.1% | +2.5% |
| 2024 | -76.6% | +130.1% |
| 2025 | -61.4% | +36.5% |
| 2026 | -49.5% | -23.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NAMS good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and NAMS?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.09 over the last year and -0.13 over 5 years.
Is NAMS a good diversifier for FNGD?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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-nams.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-nams/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · NAMS correlations
