FNGD vs SXTP: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and 60 Degrees Pharmaceuticals, Inc. (SXTP) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SXTP?
Over the past 3 years, FNGD and SXTP moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.22). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2102.8 %².
Within FNGD's tracked universe of 1743 assets, SXTP comes in at #211 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FNGD ahead by 22.9 points (-55.7% versus -78.6%). Note the risk asymmetry: SXTP runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SXTP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SXTP (60 Degrees Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -78.6% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 125.4% |
| Beta vs S&P 500 | -4.54 | 2.11 |
| Max drawdown (3Y) | -97.6% | -99.7% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SXTP |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | – |
| 2024 | -76.6% | -89.5% |
| 2025 | -61.4% | -92.1% |
| 2026 | -49.5% | -47.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SXTP good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SXTP?
As of 2026-08-27, the correlation of weekly returns between FNGD and SXTP is -0.22 over 3 years, -0.09 over 1 year and n/a over 5 years.
Is SXTP a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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
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[](https://www.pairbook.io/pair/fngd-vs-sxtp/)
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Related comparisons
Hubs: FNGD correlations · SXTP correlations
