FNGD vs PDSB: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PDS Biotechnology Corporation (PDSB) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PDSB?
Across a 3-year window, the weekly returns of FNGD and PDSB correlate at -0.39, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.39 over 3. Stretching to 5 years gives -0.35, with an annualized covariance of -2896.6 %².
Among the 1743 assets we track against FNGD, PDSB ranks #1325 by 3-year correlation. The last year tells two different stories: FNGD led by 27.3 percentage points, -55.7% for FNGD against -83.0% for PDSB.
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 PDSB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PDSB (PDS Biotechnology Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -83.0% |
| 5-year return | -99.4% | -98.5% |
| Volatility (ann.) | 75.7% | 97.2% |
| Beta vs S&P 500 | -4.54 | 2.90 |
| Max drawdown (3Y) | -97.6% | -96.9% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PDSB |
|---|---|---|
| 2022 | +52.2% | +63.0% |
| 2023 | -90.1% | -62.3% |
| 2024 | -76.6% | -67.2% |
| 2025 | -61.4% | -52.8% |
| 2026 | -49.5% | -71.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PDSB good diversifiers for each other?
Yes. With a correlation of -0.39, FNGD and PDSB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and PDSB?
The FNGD/PDSB correlation stands at -0.39 on a 3-year window (1 year: -0.35, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is PDSB a good diversifier for FNGD?
Yes. With a correlation of -0.39, FNGD and PDSB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
A reading of -0.39 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-pdsb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-pdsb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · PDSB correlations
