FNGD vs RNTX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rein Therapeutics, Inc. (RNTX) 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 FNGD and RNTX?
Over the past 3 years, FNGD and RNTX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -1867.6 %².
By 3-year correlation, RNTX places #454 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with RNTX ahead by 26.9 points (-55.7% versus -28.8%).
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 RNTX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RNTX (Rein Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -28.8% |
| 5-year return | -99.4% | -96.4% |
| Volatility (ann.) | 75.7% | 98.8% |
| Beta vs S&P 500 | -4.54 | 1.78 |
| Max drawdown (3Y) | -97.6% | -89.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RNTX |
|---|---|---|
| 2022 | +52.2% | -79.0% |
| 2023 | -90.1% | +28.6% |
| 2024 | -76.6% | -24.6% |
| 2025 | -61.4% | -49.6% |
| 2026 | -49.5% | -32.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RNTX good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and RNTX?
The FNGD/RNTX correlation stands at -0.25 on a 3-year window (1 year: -0.25, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is RNTX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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
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Related comparisons
Hubs: FNGD correlations · RNTX correlations
