AYTU vs FNGD: Correlation
Aytu BioPharma, Inc. (AYTU) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) 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 AYTU and FNGD?
Over the past 3 years, AYTU and FNGD moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.24 over 3. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -1489.5 %².
FNGD is close to the least connected end of AYTU's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months AYTU outperformed by 51.8 percentage points (-3.9% for AYTU against -55.7% for FNGD).
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.
AYTU vs FNGD: side by side
| AYTU (Aytu BioPharma, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -3.9% | -55.7% |
| 5-year return | -97.0% | -99.4% |
| Volatility (ann.) | 80.5% | 75.7% |
| Beta vs S&P 500 | 1.44 | -4.54 |
| Max drawdown (3Y) | -70.2% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AYTU | FNGD |
|---|---|---|
| 2022 | -85.9% | +52.2% |
| 2023 | -25.3% | -90.1% |
| 2024 | -40.1% | -76.6% |
| 2025 | +52.9% | -61.4% |
| 2026 | -13.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AYTU and FNGD good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AYTU and FNGD?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.20 over the last year and -0.22 over 5 years.
Is FNGD a good diversifier for AYTU?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
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/aytu-vs-fngd.json
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[](https://www.pairbook.io/pair/aytu-vs-fngd/)
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Related comparisons
Hubs: AYTU correlations · FNGD correlations
