FNGD vs TGEN: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Tecogen Inc. (TGEN) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TGEN?
On 3 years of weekly data the FNGD/TGEN correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.26 over 3 years. The 5-year figure is -0.24, and annualized covariance runs at -2126.4 %².
Among the 1743 assets we track against FNGD, TGEN ranks #545 by 3-year correlation. Neither side won the trailing year by much: -55.7% against -59.8%.
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 TGEN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TGEN (Tecogen Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -59.8% |
| 5-year return | -99.4% | +76.1% |
| Volatility (ann.) | 75.7% | 106.2% |
| Beta vs S&P 500 | -4.54 | 1.92 |
| Max drawdown (3Y) | -97.6% | -83.4% |
| 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 | TGEN |
|---|---|---|
| 2022 | +52.2% | +4.2% |
| 2023 | -90.1% | -35.2% |
| 2024 | -76.6% | +80.9% |
| 2025 | -61.4% | +237.2% |
| 2026 | -49.5% | -35.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TGEN good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TGEN?
The FNGD/TGEN correlation stands at -0.26 on a 3-year window (1 year: -0.38, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is TGEN a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
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[](https://www.pairbook.io/pair/fngd-vs-tgen/)
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Related comparisons
Hubs: FNGD correlations · TGEN correlations
