DCTH vs FNGD: Correlation
Delcath Systems, Inc. (DCTH) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCTH and FNGD?
On 3 years of weekly data the DCTH/FNGD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.25 over 3. The 5-year figure is -0.21, and annualized covariance runs at -1233.4 %².
Among the 10 assets we track against DCTH, FNGD sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months DCTH outperformed by 105.5 percentage points (+49.8% for DCTH 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.
DCTH vs FNGD: side by side
| DCTH (Delcath Systems, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +49.8% | -55.7% |
| 5-year return | +80.7% | -99.4% |
| Volatility (ann.) | 65.8% | 75.7% |
| Beta vs S&P 500 | 1.51 | -4.54 |
| Max drawdown (3Y) | -54.8% | -97.6% |
| Market cap | $0.6B | – |
| P/E (trailing) | 1639.0 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCTH | FNGD |
|---|---|---|
| 2022 | -53.5% | +52.2% |
| 2023 | +15.6% | -90.1% |
| 2024 | +189.4% | -76.6% |
| 2025 | -16.1% | -61.4% |
| 2026 | +62.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCTH and FNGD good diversifiers for each other?
Yes. With a correlation of -0.25, DCTH and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DCTH and FNGD?
As of 2026-08-27, the correlation of weekly returns between DCTH and FNGD is -0.25 over 3 years, -0.33 over 1 year and -0.21 over 5 years.
Is FNGD a good diversifier for DCTH?
Yes. With a correlation of -0.25, DCTH and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DCTH correlations · FNGD correlations
