FNGD vs TWLO: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Twilio Inc. (TWLO) trade together? Their weekly returns over three years give a correlation of -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TWLO?
Over the past 3 years, FNGD and TWLO moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -1487.2 %².
Among the 1743 assets we track against FNGD, TWLO ranks #1292 by 3-year correlation. The last year tells two different stories: TWLO led by 189.7 percentage points, -55.7% for FNGD against +134.0% for TWLO.
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 TWLO: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TWLO (Twilio Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +134.0% |
| 5-year return | -99.4% | -34.2% |
| Volatility (ann.) | 75.7% | 52.0% |
| Beta vs S&P 500 | -4.54 | 1.38 |
| Max drawdown (3Y) | -97.6% | -45.2% |
| Market cap | – | $37.1B |
| P/E (trailing) | 20.6 | 33.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TWLO |
|---|---|---|
| 2022 | +52.2% | -81.4% |
| 2023 | -90.1% | +55.0% |
| 2024 | -76.6% | +42.5% |
| 2025 | -61.4% | +31.6% |
| 2026 | -49.5% | +69.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TWLO good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and TWLO?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.29 over the last year and -0.52 over 5 years.
Is TWLO a good diversifier for FNGD?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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-twlo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-twlo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · TWLO correlations
