FNGD vs PRCT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PROCEPT BioRobotics Corporation (PRCT) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PRCT?
Across a 3-year window, the weekly returns of FNGD and PRCT correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.20). Stretching to 5 years gives -0.32, with an annualized covariance of -859.4 %².
Within FNGD's tracked universe of 1743 assets, PRCT comes in at #94 by 3-year correlation. The trailing year gives PRCT the advantage: -55.7% versus -49.5%, a 6.2-point spread.
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 PRCT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PRCT (PROCEPT BioRobotics Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -49.5% |
| 5-year return | -99.4% | -50.9% |
| Volatility (ann.) | 75.7% | 55.9% |
| Beta vs S&P 500 | -4.54 | 1.08 |
| Max drawdown (3Y) | -97.6% | -83.2% |
| Market cap | – | $1.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PRCT |
|---|---|---|
| 2022 | +52.2% | +66.1% |
| 2023 | -90.1% | +0.9% |
| 2024 | -76.6% | +92.1% |
| 2025 | -61.4% | -60.9% |
| 2026 | -49.5% | -34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PRCT good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PRCT?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.05 over the last year and -0.32 over 5 years.
Is PRCT a good diversifier for FNGD?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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-prct.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-prct/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · PRCT correlations
