FNGD vs NTLA: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Intellia Therapeutics, Inc. (NTLA) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NTLA?
Over the past 3 years, FNGD and NTLA moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -2050.8 %².
Within FNGD's tracked universe of 1743 assets, NTLA comes in at #1047 by 3-year correlation. The last year tells two different stories: NTLA led by 70.5 percentage points, -55.7% for FNGD against +14.8% for NTLA.
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 NTLA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NTLA (Intellia Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +14.8% |
| 5-year return | -99.4% | -91.5% |
| Volatility (ann.) | 75.7% | 82.2% |
| Beta vs S&P 500 | -4.54 | 2.32 |
| Max drawdown (3Y) | -97.6% | -83.6% |
| Market cap | – | $1.8B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NTLA |
|---|---|---|
| 2022 | +52.2% | -70.5% |
| 2023 | -90.1% | -12.6% |
| 2024 | -76.6% | -61.8% |
| 2025 | -61.4% | -22.9% |
| 2026 | -49.5% | +45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NTLA good diversifiers for each other?
Yes. With a correlation of -0.33, FNGD and NTLA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and NTLA?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.24 over the last year and -0.40 over 5 years.
Is NTLA a good diversifier for FNGD?
Yes. With a correlation of -0.33, FNGD and NTLA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 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.
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Related comparisons
Hubs: FNGD correlations · NTLA correlations
