FNGD vs SRTA: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Strata Critical Medical, Inc. (SRTA) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SRTA?
On 3 years of weekly data the FNGD/SRTA correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.38 over 3. The 5-year figure is -0.38, and annualized covariance runs at -2007.9 %².
Among the 1743 assets we track against FNGD, SRTA ranks #1289 by 3-year correlation. The last year tells two different stories: SRTA led by 90.4 percentage points, -55.7% for FNGD against +34.7% for SRTA.
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 SRTA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SRTA (Strata Critical Medical, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +34.7% |
| 5-year return | -99.4% | -28.6% |
| Volatility (ann.) | 75.7% | 69.8% |
| Beta vs S&P 500 | -4.54 | 2.02 |
| Max drawdown (3Y) | -97.6% | -48.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SRTA |
|---|---|---|
| 2022 | +52.2% | -59.5% |
| 2023 | -90.1% | -1.4% |
| 2024 | -76.6% | +20.4% |
| 2025 | -61.4% | +13.2% |
| 2026 | -49.5% | +28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SRTA good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SRTA?
The FNGD/SRTA correlation stands at -0.38 on a 3-year window (1 year: -0.43, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is SRTA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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-srta.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-srta/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SRTA correlations
