FNGD vs PTCT: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PTC Therapeutics, Inc. (PTCT) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PTCT?
Across a 3-year window, the weekly returns of FNGD and PTCT correlate at -0.28, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Stretching to 5 years gives -0.31, with an annualized covariance of -1126.2 %².
Among the 1743 assets we track against FNGD, PTCT ranks #720 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PTCT outperformed by 100.0 percentage points (-55.7% for FNGD against +44.3% for PTCT).
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 PTCT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PTCT (PTC Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +44.3% |
| 5-year return | -99.4% | +70.4% |
| Volatility (ann.) | 75.7% | 52.5% |
| Beta vs S&P 500 | -4.54 | 1.25 |
| Max drawdown (3Y) | -97.6% | -56.8% |
| Market cap | – | $6.0B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PTCT |
|---|---|---|
| 2022 | +52.2% | -4.2% |
| 2023 | -90.1% | -27.8% |
| 2024 | -76.6% | +63.8% |
| 2025 | -61.4% | +68.3% |
| 2026 | -49.5% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PTCT good diversifiers for each other?
Yes. With a correlation of -0.28, FNGD and PTCT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and PTCT?
As of 2026-08-27, the correlation of weekly returns between FNGD and PTCT is -0.28 over 3 years, -0.29 over 1 year and -0.31 over 5 years.
Is PTCT a good diversifier for FNGD?
Yes. With a correlation of -0.28, FNGD and PTCT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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-ptct.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-ptct/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · PTCT correlations
