FNGD vs TSCO: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Tractor Supply (TSCO) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TSCO?
Over the past 3 years, FNGD and TSCO moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.18). Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -378.4 %².
By 3-year correlation, TSCO places #36 of the 1743 assets tracked against FNGD. Over the last 12 months TSCO came out ahead by 12.7 percentage points (-55.7% against -43.0%). Risk is not evenly split, since FNGD carries 2.7 times the volatility of the other side.
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 TSCO: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TSCO (Tractor Supply) | |
|---|---|---|
| 1-year return | -55.7% | -43.0% |
| 5-year return | -99.4% | -1.7% |
| Volatility (ann.) | 75.7% | 28.5% |
| Beta vs S&P 500 | -4.54 | 0.67 |
| Max drawdown (3Y) | -97.6% | -52.7% |
| Market cap | – | $18.1B |
| P/E (trailing) | 20.6 | 18.3 |
| Dividend yield | 0.00% | 2.68% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | TSCO |
|---|---|---|
| 2022 | +52.2% | -4.0% |
| 2023 | -90.1% | -2.6% |
| 2024 | -76.6% | +25.4% |
| 2025 | -61.4% | -4.2% |
| 2026 | -49.5% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TSCO good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TSCO?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.07 over the last year and -0.22 over 5 years.
Is TSCO a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-tsco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-tsco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TSCO correlations
