FNGD vs TSHA: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Taysha Gene Therapies, Inc. (TSHA) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TSHA?
Across a 3-year window, the weekly returns of FNGD and TSHA correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.21, with an annualized covariance of -2340.2 %².
Within FNGD's tracked universe of 1743 assets, TSHA comes in at #870 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TSHA ahead by 156.4 points (-55.7% versus +100.7%).
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 TSHA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TSHA (Taysha Gene Therapies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +100.7% |
| 5-year return | -99.4% | -69.5% |
| Volatility (ann.) | 75.7% | 101.5% |
| Beta vs S&P 500 | -4.54 | 2.63 |
| Max drawdown (3Y) | -97.6% | -72.9% |
| Market cap | – | $1.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TSHA |
|---|---|---|
| 2022 | +52.2% | -80.6% |
| 2023 | -90.1% | -21.7% |
| 2024 | -76.6% | -2.3% |
| 2025 | -61.4% | +217.9% |
| 2026 | -49.5% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TSHA good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and TSHA?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.39 over the last year and -0.21 over 5 years.
Is TSHA a good diversifier for FNGD?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-tsha.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-tsha/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TSHA correlations
