FNGD vs TSSI: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and TSS, Inc. (TSSI) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TSSI?
Over the past 3 years, FNGD and TSSI moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -3193.2 %².
Among the 1743 assets we track against FNGD, TSSI ranks #995 by 3-year correlation. The trailing year gives TSSI the advantage: -55.7% versus -46.0%, a 9.7-point spread. Note the risk asymmetry: TSSI runs 1.8 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 TSSI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TSSI (TSS, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -46.0% |
| 5-year return | -99.4% | +1305.0% |
| Volatility (ann.) | 75.7% | 133.4% |
| Beta vs S&P 500 | -4.54 | 3.46 |
| Max drawdown (3Y) | -97.6% | -77.7% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | 16.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TSSI |
|---|---|---|
| 2022 | +52.2% | +24.4% |
| 2023 | -90.1% | -51.8% |
| 2024 | -76.6% | +4292.6% |
| 2025 | -61.4% | -40.4% |
| 2026 | -49.5% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TSSI good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and TSSI?
The FNGD/TSSI correlation stands at -0.32 on a 3-year window (1 year: -0.35, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is TSSI a good diversifier for FNGD?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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-tssi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-tssi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TSSI correlations
