FNGO vs TTWO: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index 2X Leveraged ETNs due January 8 (FNGO) and Take-Two Interactive (TTWO) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGO and TTWO?
On 3 years of weekly data the FNGO/TTWO correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.45 over 3. The 5-year figure is 0.42, and annualized covariance runs at 633.5 %².
By 3-year correlation, TTWO places #25 of the 35 assets tracked against FNGO. Correlation aside, the last 12 months split them widely, with FNGO ahead by 33.3 points (+33.7% versus +0.4%). Note the risk asymmetry: FNGO runs 1.9 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.
FNGO vs TTWO: side by side
| FNGO (MicroSectors FANG Index 2X Leveraged ETNs due January 8) | TTWO (Take-Two Interactive) | |
|---|---|---|
| 1-year return | +33.7% | +0.4% |
| 5-year return | +220.3% | +47.3% |
| Volatility (ann.) | 51.9% | 27.3% |
| Beta vs S&P 500 | 3.12 | 0.85 |
| Max drawdown (3Y) | -47.6% | -27.7% |
| Market cap | – | $43.6B |
| P/E (trailing) | 30.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | FNGO | TTWO |
|---|---|---|
| 2022 | -71.6% | -41.4% |
| 2023 | +240.1% | +54.6% |
| 2024 | +101.7% | +14.4% |
| 2025 | +25.5% | +39.1% |
| 2026 | +30.1% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGO and TTWO good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FNGO and TTWO?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.50 over the last year and 0.42 over 5 years.
Is TTWO a good diversifier for FNGO?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/fngo-vs-ttwo.json
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[](https://www.pairbook.io/pair/fngo-vs-ttwo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGO correlations · TTWO correlations
