FNGD vs TYRA: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Tyra Biosciences, Inc. (TYRA) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TYRA?
On 3 years of weekly data the FNGD/TYRA correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.02 versus -0.24 over 3 years. The 5-year figure is -0.35, and annualized covariance runs at -1219.3 %².
Among the 1743 assets we track against FNGD, TYRA ranks #376 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TYRA ahead by 158.6 points (-55.7% versus +102.9%).
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 TYRA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TYRA (Tyra Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +102.9% |
| 5-year return | -99.4% | +0.5% |
| Volatility (ann.) | 75.7% | 66.7% |
| Beta vs S&P 500 | -4.54 | 1.45 |
| Max drawdown (3Y) | -97.6% | -75.3% |
| Market cap | – | $1.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TYRA |
|---|---|---|
| 2022 | +52.2% | -46.0% |
| 2023 | -90.1% | +82.2% |
| 2024 | -76.6% | +0.4% |
| 2025 | -61.4% | +89.1% |
| 2026 | -49.5% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TYRA good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TYRA?
The FNGD/TYRA correlation stands at -0.24 on a 3-year window (1 year: 0.02, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is TYRA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: FNGD correlations · TYRA correlations
