AVXL vs FNGD: Correlation
Measured on weekly returns over the past three years, Anavex Life Sciences Corp. (AVXL) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVXL and FNGD?
Across a 3-year window, the weekly returns of AVXL and FNGD correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.31). Stretching to 5 years gives -0.34, with an annualized covariance of -1966.4 %².
FNGD is close to the least connected end of AVXL's tracked universe, ranking #10 of 11. Over the last 12 months FNGD came out ahead by 11.2 percentage points (-66.9% against -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.
AVXL vs FNGD: side by side
| AVXL (Anavex Life Sciences Corp.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -66.9% | -55.7% |
| 5-year return | -83.1% | -99.4% |
| Volatility (ann.) | 84.1% | 75.7% |
| Beta vs S&P 500 | 2.04 | -4.54 |
| Max drawdown (3Y) | -82.6% | -97.6% |
| 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 | AVXL | FNGD |
|---|---|---|
| 2022 | -46.6% | +52.2% |
| 2023 | +0.5% | -90.1% |
| 2024 | +15.4% | -76.6% |
| 2025 | -66.9% | -61.4% |
| 2026 | -12.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVXL and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVXL and FNGD?
The AVXL/FNGD correlation stands at -0.31 on a 3-year window (1 year: -0.49, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AVXL?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 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/avxl-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avxl-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVXL correlations · FNGD correlations
