ACLS vs FNGD: Correlation
Measured on weekly returns over the past three years, Axcelis Technologies, Inc. (ACLS) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACLS and FNGD?
Across a 3-year window, the weekly returns of ACLS and FNGD correlate at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.19 versus -0.40 over 3 years. Stretching to 5 years gives -0.52, with an annualized covariance of -1565.4 %².
FNGD is close to the least connected end of ACLS's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with ACLS ahead by 105.1 points (+49.4% versus -55.7%).
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.
ACLS vs FNGD: side by side
| ACLS (Axcelis Technologies, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +49.4% | -55.7% |
| 5-year return | +140.5% | -99.4% |
| Volatility (ann.) | 51.6% | 75.7% |
| Beta vs S&P 500 | 1.57 | -4.54 |
| Max drawdown (3Y) | -78.0% | -97.6% |
| Market cap | $3.8B | – |
| P/E (trailing) | 40.4 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACLS | FNGD |
|---|---|---|
| 2022 | +6.4% | +52.2% |
| 2023 | +63.4% | -90.1% |
| 2024 | -46.1% | -76.6% |
| 2025 | +15.0% | -61.4% |
| 2026 | +52.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACLS and FNGD good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACLS and FNGD?
The ACLS/FNGD correlation stands at -0.40 on a 3-year window (1 year: -0.19, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ACLS?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 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/acls-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acls-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACLS correlations · FNGD correlations
