FNGD vs PRQR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ProQR Therapeutics N.V. (PRQR) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PRQR?
Across a 3-year window, the weekly returns of FNGD and PRQR correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.49) runs below the 3-year figure (-0.23). Stretching to 5 years gives -0.15, with an annualized covariance of -1860.8 %².
Within FNGD's tracked universe of 1743 assets, PRQR comes in at #276 by 3-year correlation. The last year tells two different stories: PRQR led by 60.7 percentage points, -55.7% for FNGD against +5.0% for PRQR.
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 PRQR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PRQR (ProQR Therapeutics N.V.) | |
|---|---|---|
| 1-year return | -55.7% | +5.0% |
| 5-year return | -99.4% | -64.2% |
| Volatility (ann.) | 75.7% | 104.9% |
| Beta vs S&P 500 | -4.54 | 1.98 |
| Max drawdown (3Y) | -97.6% | -75.1% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PRQR |
|---|---|---|
| 2022 | +52.2% | -53.8% |
| 2023 | -90.1% | -46.5% |
| 2024 | -76.6% | +33.8% |
| 2025 | -61.4% | -23.8% |
| 2026 | -49.5% | +14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PRQR 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 PRQR?
The FNGD/PRQR correlation stands at -0.23 on a 3-year window (1 year: -0.49, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is PRQR 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-prqr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-prqr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · PRQR correlations
