PFX vs TNGX: Correlation
PhenixFIN Corporation (PFX) and Tango Therapeutics, Inc. (TNGX) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFX and TNGX?
Across a 3-year window, the weekly returns of PFX and TNGX correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.23). Stretching to 5 years gives -0.12, with an annualized covariance of -572.5 %².
Within PFX's tracked universe of 18 assets, TNGX comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TNGX ahead by 258.5 points (+7.9% versus +266.4%). One caveat on sizing: TNGX is 4.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PFX vs TNGX: side by side
| PFX (PhenixFIN Corporation) | TNGX (Tango Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +7.9% | +266.4% |
| 5-year return | +36.0% | +112.1% |
| Volatility (ann.) | 22.8% | 109.5% |
| Beta vs S&P 500 | 0.08 | 1.01 |
| Max drawdown (3Y) | -29.6% | -91.5% |
| Market cap | $0.1B | $4.3B |
| P/E (trailing) | 22.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFX | TNGX |
|---|---|---|
| 2022 | -25.5% | -33.7% |
| 2023 | +36.1% | +36.6% |
| 2024 | +23.3% | -68.8% |
| 2025 | -10.1% | +186.7% |
| 2026 | +19.6% | +185.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFX and TNGX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PFX and TNGX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.46 over the last year and -0.12 over 5 years.
Is TNGX a good diversifier for PFX?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pfx-vs-tngx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pfx-vs-tngx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PFX correlations · TNGX correlations
