FNGD vs TXG: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and 10x Genomics, Inc. (TXG) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TXG?
On 3 years of weekly data the FNGD/TXG correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.26 over 3. The 5-year figure is -0.43, and annualized covariance runs at -1263.9 %².
Among the 1743 assets we track against FNGD, TXG ranks #547 by 3-year correlation. The last year tells two different stories: TXG led by 418.3 percentage points, -55.7% for FNGD against +362.6% for TXG.
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 TXG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TXG (10x Genomics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +362.6% |
| 5-year return | -99.4% | -62.7% |
| Volatility (ann.) | 75.7% | 64.3% |
| Beta vs S&P 500 | -4.54 | 1.55 |
| Max drawdown (3Y) | -97.6% | -87.6% |
| Market cap | – | $8.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TXG |
|---|---|---|
| 2022 | +52.2% | -75.5% |
| 2023 | -90.1% | +53.6% |
| 2024 | -76.6% | -74.3% |
| 2025 | -61.4% | +13.6% |
| 2026 | -49.5% | +297.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TXG good diversifiers for each other?
Yes. With a correlation of -0.26, FNGD and TXG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and TXG?
The FNGD/TXG correlation stands at -0.26 on a 3-year window (1 year: -0.21, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is TXG a good diversifier for FNGD?
Yes. With a correlation of -0.26, FNGD and TXG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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-txg.json
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Related comparisons
Hubs: FNGD correlations · TXG correlations
