FNGD vs RCUS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Arcus Biosciences, Inc. (RCUS) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RCUS?
On 3 years of weekly data the FNGD/RCUS correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.35 over 3 years. The 5-year figure is -0.38, and annualized covariance runs at -1569.2 %².
By 3-year correlation, RCUS places #1154 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months RCUS outperformed by 245.4 percentage points (-55.7% for FNGD against +189.7% for RCUS).
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 RCUS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RCUS (Arcus Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +189.7% |
| 5-year return | -99.4% | +3.1% |
| Volatility (ann.) | 75.7% | 59.0% |
| Beta vs S&P 500 | -4.54 | 1.71 |
| Max drawdown (3Y) | -97.6% | -69.5% |
| Market cap | – | $3.8B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RCUS |
|---|---|---|
| 2022 | +52.2% | -48.9% |
| 2023 | -90.1% | -7.6% |
| 2024 | -76.6% | -22.0% |
| 2025 | -61.4% | +60.0% |
| 2026 | -49.5% | +28.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RCUS good diversifiers for each other?
Yes. With a correlation of -0.35, FNGD and RCUS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RCUS?
The FNGD/RCUS correlation stands at -0.35 on a 3-year window (1 year: -0.21, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is RCUS a good diversifier for FNGD?
Yes. With a correlation of -0.35, FNGD and RCUS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-rcus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rcus/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · RCUS correlations
