FNGD vs TAOX: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Tao Synergies Inc. (TAOX) 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 TAOX?
Over the past 3 years, FNGD and TAOX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1586.5 %².
Within FNGD's tracked universe of 1743 assets, TAOX comes in at #286 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TAOX outperformed by 17.5 percentage points (-55.7% for FNGD against -38.2% for TAOX).
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 TAOX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TAOX (Tao Synergies Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -38.2% |
| 5-year return | -99.4% | -97.5% |
| Volatility (ann.) | 75.7% | 92.9% |
| Beta vs S&P 500 | -4.54 | 1.78 |
| Max drawdown (3Y) | -97.6% | -84.6% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 2.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TAOX |
|---|---|---|
| 2022 | +52.2% | -86.4% |
| 2023 | -90.1% | -76.6% |
| 2024 | -76.6% | -49.0% |
| 2025 | -61.4% | +6.1% |
| 2026 | -49.5% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TAOX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TAOX?
As of 2026-08-27, the correlation of weekly returns between FNGD and TAOX is -0.23 over 3 years, -0.22 over 1 year and -0.25 over 5 years.
Is TAOX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-taox.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-taox/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · TAOX correlations
