ACIW vs FNGD: Correlation
ACI Worldwide, Inc. (ACIW) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACIW and FNGD?
On 3 years of weekly data the ACIW/FNGD correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.29). The 5-year figure is -0.32, and annualized covariance runs at -774.4 %².
Among the 20 assets we track against ACIW, FNGD sits near the bottom by co-movement, at rank #18. The last year tells two different stories: ACIW led by 67.5 percentage points, +11.8% for ACIW against -55.7% for FNGD. Note the risk asymmetry: FNGD runs 2.1 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.
ACIW vs FNGD: side by side
| ACIW (ACI Worldwide, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +11.8% | -55.7% |
| 5-year return | +69.0% | -99.4% |
| Volatility (ann.) | 35.3% | 75.7% |
| Beta vs S&P 500 | 1.07 | -4.54 |
| Max drawdown (3Y) | -35.0% | -97.6% |
| Market cap | $5.5B | – |
| P/E (trailing) | 24.3 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACIW | FNGD |
|---|---|---|
| 2022 | -33.7% | +52.2% |
| 2023 | +33.0% | -90.1% |
| 2024 | +69.6% | -76.6% |
| 2025 | -7.9% | -61.4% |
| 2026 | +13.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACIW and FNGD good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACIW and FNGD?
As of 2026-08-27, the correlation of weekly returns between ACIW and FNGD is -0.29 over 3 years, -0.15 over 1 year and -0.32 over 5 years.
Is FNGD a good diversifier for ACIW?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/aciw-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aciw-vs-fngd/)
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Related comparisons
Hubs: ACIW correlations · FNGD correlations
