ACHR vs FNGD: Correlation
Measured on weekly returns over the past three years, Archer Aviation Inc. (ACHR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACHR and FNGD?
Over the past 3 years, ACHR and FNGD moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.53) sits close to the 3-year figure. Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -3021.4 %².
Out of 26 assets tracked against ACHR, FNGD lands near the bottom at #26. The last year tells two different stories: ACHR led by 20.5 percentage points, -35.2% for ACHR against -55.7% for FNGD.
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.
ACHR vs FNGD: side by side
| ACHR (Archer Aviation Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -35.2% | -55.7% |
| 5-year return | -40.7% | -99.4% |
| Volatility (ann.) | 87.9% | 75.7% |
| Beta vs S&P 500 | 3.18 | -4.54 |
| Max drawdown (3Y) | -67.4% | -97.6% |
| Market cap | $4.6B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACHR | FNGD |
|---|---|---|
| 2022 | -69.0% | +52.2% |
| 2023 | +228.3% | -90.1% |
| 2024 | +58.8% | -76.6% |
| 2025 | -22.9% | -61.4% |
| 2026 | -21.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACHR and FNGD good diversifiers for each other?
Yes. With a correlation of -0.45, ACHR and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACHR and FNGD?
The ACHR/FNGD correlation stands at -0.45 on a 3-year window (1 year: -0.53, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ACHR?
Yes. With a correlation of -0.45, ACHR and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/achr-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/achr-vs-fngd/)
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Related comparisons
Hubs: ACHR correlations · FNGD correlations
