ABTC vs FNGD: Correlation
American Bitcoin Corp. (ABTC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABTC and FNGD?
Over the past 3 years, ABTC and FNGD moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.44 over 1 year against -0.34 over 3. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -4255.9 %².
Out of 13 assets tracked against ABTC, FNGD lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with FNGD ahead by 34.6 points (-90.3% versus -55.7%). Note the risk asymmetry: ABTC runs 2.2 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.
ABTC vs FNGD: side by side
| ABTC (American Bitcoin Corp.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -90.3% | -55.7% |
| 5-year return | -100.0% | -99.4% |
| Volatility (ann.) | 163.6% | 75.7% |
| Beta vs S&P 500 | 4.24 | -4.54 |
| Max drawdown (3Y) | -99.3% | -97.6% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABTC | FNGD |
|---|---|---|
| 2022 | -98.0% | +52.2% |
| 2023 | -37.0% | -90.1% |
| 2024 | -95.4% | -76.6% |
| 2025 | -15.2% | -61.4% |
| 2026 | -65.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABTC and FNGD good diversifiers for each other?
Yes. With a correlation of -0.34, ABTC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABTC and FNGD?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.44 over the last year and -0.31 over 5 years.
Is FNGD a good diversifier for ABTC?
Yes. With a correlation of -0.34, ABTC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
A reading of -0.34 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/abtc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abtc-vs-fngd/)
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Related comparisons
Hubs: ABTC correlations · FNGD correlations
