FNGD vs TARA: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Protara Therapeutics, Inc. (TARA) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TARA?
Across a 3-year window, the weekly returns of FNGD and TARA correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.19). Stretching to 5 years gives -0.27, with an annualized covariance of -1337.2 %².
Within FNGD's tracked universe of 1743 assets, TARA comes in at #67 by 3-year correlation. The last year tells two different stories: TARA led by 79.2 percentage points, -55.7% for FNGD against +23.5% for TARA.
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 TARA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TARA (Protara Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +23.5% |
| 5-year return | -99.4% | -49.9% |
| Volatility (ann.) | 75.7% | 93.1% |
| Beta vs S&P 500 | -4.54 | 1.19 |
| Max drawdown (3Y) | -97.6% | -66.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TARA |
|---|---|---|
| 2022 | +52.2% | -60.3% |
| 2023 | -90.1% | -30.0% |
| 2024 | -76.6% | +181.6% |
| 2025 | -61.4% | +0.9% |
| 2026 | -49.5% | -25.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TARA good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TARA?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.06 over the last year and -0.27 over 5 years.
Is TARA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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-tara.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-tara/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TARA correlations
