ABNB vs FNGD: Correlation
How closely do Airbnb (ABNB) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABNB and FNGD?
Over the past 3 years, ABNB and FNGD moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.51 lands near the 3-year figure. Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -1264.0 %².
FNGD is close to the least connected end of ABNB's tracked universe, ranking #32 of 32. Their recent paths diverged sharply: over the last 12 months ABNB outperformed by 97.7 percentage points (+42.0% for ABNB against -55.7% for FNGD). One caveat on sizing: FNGD is 2.2 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.
ABNB vs FNGD: side by side
| ABNB (Airbnb) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +42.0% | -55.7% |
| 5-year return | +18.2% | -99.4% |
| Volatility (ann.) | 35.2% | 75.7% |
| Beta vs S&P 500 | 1.28 | -4.54 |
| Max drawdown (3Y) | -37.2% | -97.6% |
| Market cap | $110.4B | – |
| P/E (trailing) | 42.9 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | ABNB | FNGD |
|---|---|---|
| 2022 | -48.6% | +52.2% |
| 2023 | +59.2% | -90.1% |
| 2024 | -3.5% | -76.6% |
| 2025 | +3.3% | -61.4% |
| 2026 | +35.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABNB and FNGD good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ABNB and FNGD?
As of 2026-08-27, the correlation of weekly returns between ABNB and FNGD is -0.47 over 3 years, -0.51 over 1 year and -0.56 over 5 years.
Is FNGD a good diversifier for ABNB?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 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/abnb-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abnb-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABNB correlations · FNGD correlations
