FNGD vs RVMD: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Revolution Medicines, Inc. (RVMD) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RVMD?
Over the past 3 years, FNGD and RVMD moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -1145.7 %².
Within FNGD's tracked universe of 1743 assets, RVMD comes in at #280 by 3-year correlation. The last year tells two different stories: RVMD led by 537.1 percentage points, -55.7% for FNGD against +481.4% for RVMD.
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 RVMD: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RVMD (Revolution Medicines, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +481.4% |
| 5-year return | -99.4% | +680.1% |
| Volatility (ann.) | 75.7% | 64.9% |
| Beta vs S&P 500 | -4.54 | 1.64 |
| Max drawdown (3Y) | -97.6% | -48.6% |
| Market cap | – | $47.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RVMD |
|---|---|---|
| 2022 | +52.2% | -5.4% |
| 2023 | -90.1% | +20.4% |
| 2024 | -76.6% | +52.5% |
| 2025 | -61.4% | +82.1% |
| 2026 | -49.5% | +177.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RVMD good diversifiers for each other?
Yes. With a correlation of -0.23, FNGD and RVMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RVMD?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.30 over the last year and -0.29 over 5 years.
Is RVMD a good diversifier for FNGD?
Yes. With a correlation of -0.23, FNGD and RVMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-rvmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rvmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · RVMD correlations
