FNGD vs TJX: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and TJX Companies (TJX) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TJX?
Across a 3-year window, the weekly returns of FNGD and TJX correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.05) than the 3-year average (-0.21). Stretching to 5 years gives -0.30, with an annualized covariance of -287.6 %².
Within FNGD's tracked universe of 1743 assets, TJX comes in at #142 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TJX outperformed by 54.7 percentage points (-55.7% for FNGD against -1.0% for TJX). Note the risk asymmetry: FNGD runs 4.1 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 TJX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TJX (TJX Companies) | |
|---|---|---|
| 1-year return | -55.7% | -1.0% |
| 5-year return | -99.4% | +98.2% |
| Volatility (ann.) | 75.7% | 18.3% |
| Beta vs S&P 500 | -4.54 | 0.45 |
| Max drawdown (3Y) | -97.6% | -20.1% |
| Market cap | – | $148.3B |
| P/E (trailing) | 20.6 | 24.9 |
| Dividend yield | 0.00% | 1.32% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | TJX |
|---|---|---|
| 2022 | +52.2% | +6.7% |
| 2023 | -90.1% | +19.7% |
| 2024 | -76.6% | +30.6% |
| 2025 | -61.4% | +28.7% |
| 2026 | -49.5% | -11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TJX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TJX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.05 over the last year and -0.30 over 5 years.
Is TJX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-tjx.json
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[](https://www.pairbook.io/pair/fngd-vs-tjx/)
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Related comparisons
Hubs: FNGD correlations · TJX correlations
