FNGD vs OCUL: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Ocular Therapeutix, Inc. (OCUL) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and OCUL?
Across a 3-year window, the weekly returns of FNGD and OCUL correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. Stretching to 5 years gives -0.23, with an annualized covariance of -1811.7 %².
By 3-year correlation, OCUL places #908 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with OCUL ahead by 43.5 points (-55.7% versus -12.2%).
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 OCUL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | OCUL (Ocular Therapeutix, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -12.2% |
| 5-year return | -99.4% | +0.7% |
| Volatility (ann.) | 75.7% | 77.8% |
| Beta vs S&P 500 | -4.54 | 1.80 |
| Max drawdown (3Y) | -97.6% | -61.6% |
| Market cap | – | $2.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | OCUL |
|---|---|---|
| 2022 | +52.2% | -59.7% |
| 2023 | -90.1% | +58.7% |
| 2024 | -76.6% | +91.5% |
| 2025 | -61.4% | +42.2% |
| 2026 | -49.5% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and OCUL 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 OCUL?
As of 2026-08-27, the correlation of weekly returns between FNGD and OCUL is -0.31 over 3 years, -0.35 over 1 year and -0.23 over 5 years.
Is OCUL 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?
On the −1 to +1 scale, -0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-ocul.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-ocul/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · OCUL correlations
