FNGD vs TVTX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Travere Therapeutics, Inc. (TVTX) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TVTX?
Across a 3-year window, the weekly returns of FNGD and TVTX correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.26, with an annualized covariance of -1535.5 %².
By 3-year correlation, TVTX places #740 of the 1743 assets tracked against FNGD. The last year tells two different stories: TVTX led by 342.9 percentage points, -55.7% for FNGD against +287.2% for TVTX.
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 TVTX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TVTX (Travere Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +287.2% |
| 5-year return | -99.4% | +213.8% |
| Volatility (ann.) | 75.7% | 72.5% |
| Beta vs S&P 500 | -4.54 | 1.67 |
| Max drawdown (3Y) | -97.6% | -64.6% |
| Market cap | – | $6.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TVTX |
|---|---|---|
| 2022 | +52.2% | -32.2% |
| 2023 | -90.1% | -57.3% |
| 2024 | -76.6% | +93.8% |
| 2025 | -61.4% | +119.3% |
| 2026 | -49.5% | +76.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TVTX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and TVTX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.35 over the last year and -0.26 over 5 years.
Is TVTX a good diversifier for FNGD?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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-tvtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-tvtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TVTX correlations
