FNGD vs RKDA: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Arcadia Biosciences, Inc. (RKDA) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RKDA?
Over the past 3 years, FNGD and RKDA moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.12 versus -0.24 over 3 years. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -1859.1 %².
By 3-year correlation, RKDA places #362 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with FNGD ahead by 30.9 points (-55.7% versus -86.6%).
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 RKDA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RKDA (Arcadia Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -86.6% |
| 5-year return | -99.4% | -99.5% |
| Volatility (ann.) | 75.7% | 100.4% |
| Beta vs S&P 500 | -4.54 | 1.40 |
| Max drawdown (3Y) | -97.6% | -93.4% |
| 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 | RKDA |
|---|---|---|
| 2022 | +52.2% | -73.9% |
| 2023 | -90.1% | -71.1% |
| 2024 | -76.6% | +89.1% |
| 2025 | -61.4% | -66.6% |
| 2026 | -49.5% | -74.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RKDA good diversifiers for each other?
Yes. With a correlation of -0.24, FNGD and RKDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RKDA?
The FNGD/RKDA correlation stands at -0.24 on a 3-year window (1 year: -0.12, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is RKDA a good diversifier for FNGD?
Yes. With a correlation of -0.24, FNGD and RKDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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-rkda.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-rkda/)
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Related comparisons
Hubs: FNGD correlations · RKDA correlations
