ABCB vs FNGD: Correlation
Measured on weekly returns over the past three years, Ameris Bancorp (ABCB) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) 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 ABCB and FNGD?
Over the past 3 years, ABCB and FNGD moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.26). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -578.7 %².
FNGD is close to the least connected end of ABCB's tracked universe, ranking #47 of 49. Their recent paths diverged sharply: over the last 12 months ABCB outperformed by 72.6 percentage points (+16.9% for ABCB against -55.7% for FNGD). Note the risk asymmetry: FNGD runs 2.5 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.
ABCB vs FNGD: side by side
| ABCB (Ameris Bancorp) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +16.9% | -55.7% |
| 5-year return | +86.9% | -99.4% |
| Volatility (ann.) | 29.7% | 75.7% |
| Beta vs S&P 500 | 1.06 | -4.54 |
| Max drawdown (3Y) | -29.5% | -97.6% |
| Market cap | $5.7B | – |
| P/E (trailing) | 15.5 | 20.6 |
| Dividend yield | 0.93% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCB | FNGD |
|---|---|---|
| 2022 | -3.8% | +52.2% |
| 2023 | +14.3% | -90.1% |
| 2024 | +19.4% | -76.6% |
| 2025 | +20.1% | -61.4% |
| 2026 | +15.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCB and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ABCB and FNGD?
The ABCB/FNGD correlation stands at -0.26 on a 3-year window (1 year: -0.04, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ABCB?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/abcb-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abcb-vs-fngd/)
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Related comparisons
Hubs: ABCB correlations · FNGD correlations
