ACHV vs FNGD: Correlation
Measured on weekly returns over the past three years, Achieve Life Sciences, Inc. (ACHV) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACHV and FNGD?
Across a 3-year window, the weekly returns of ACHV and FNGD correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Stretching to 5 years gives -0.29, with an annualized covariance of -1536.7 %².
Among the 13 assets we track against ACHV, FNGD sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with ACHV ahead by 230.2 points (+174.5% versus -55.7%).
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.
ACHV vs FNGD: side by side
| ACHV (Achieve Life Sciences, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +174.5% | -55.7% |
| 5-year return | +3.2% | -99.4% |
| Volatility (ann.) | 81.5% | 75.7% |
| Beta vs S&P 500 | 2.08 | -4.54 |
| Max drawdown (3Y) | -66.2% | -97.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACHV | FNGD |
|---|---|---|
| 2022 | -68.5% | +52.2% |
| 2023 | +68.2% | -90.1% |
| 2024 | -14.6% | -76.6% |
| 2025 | +41.2% | -61.4% |
| 2026 | +64.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACHV and FNGD good diversifiers for each other?
Yes. With a correlation of -0.25, ACHV and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACHV and FNGD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.35 over the last year and -0.29 over 5 years.
Is FNGD a good diversifier for ACHV?
Yes. With a correlation of -0.25, ACHV and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/achv-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/achv-vs-fngd/)
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Related comparisons
Hubs: ACHV correlations · FNGD correlations
