FNGD vs RGNX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and REGENXBIO Inc. (RGNX) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RGNX?
On 3 years of weekly data the FNGD/RGNX correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.32 over 3. The 5-year figure is -0.32, and annualized covariance runs at -2035.7 %².
By 3-year correlation, RGNX places #985 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with RGNX ahead by 61.9 points (-55.7% versus +6.2%).
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 RGNX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RGNX (REGENXBIO Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +6.2% |
| 5-year return | -99.4% | -70.5% |
| Volatility (ann.) | 75.7% | 84.1% |
| Beta vs S&P 500 | -4.54 | 2.28 |
| Max drawdown (3Y) | -97.6% | -78.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RGNX |
|---|---|---|
| 2022 | +52.2% | -30.6% |
| 2023 | -90.1% | -20.9% |
| 2024 | -76.6% | -56.9% |
| 2025 | -61.4% | +86.3% |
| 2026 | -49.5% | -34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RGNX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and RGNX?
The FNGD/RGNX correlation stands at -0.32 on a 3-year window (1 year: -0.30, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is RGNX a good diversifier for FNGD?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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/fngd-vs-rgnx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-rgnx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · RGNX correlations
