ACMR vs FNGD: Correlation
How closely do ACM Research, Inc. (ACMR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACMR and FNGD?
On 3 years of weekly data the ACMR/FNGD correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.38) sits close to the 3-year figure. The 5-year figure is -0.38, and annualized covariance runs at -1897.0 %².
Among the 13 assets we track against ACMR, FNGD sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with ACMR ahead by 237.3 points (+181.6% 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.
ACMR vs FNGD: side by side
| ACMR (ACM Research, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +181.6% | -55.7% |
| 5-year return | +173.8% | -99.4% |
| Volatility (ann.) | 80.8% | 75.7% |
| Beta vs S&P 500 | 2.07 | -4.54 |
| Max drawdown (3Y) | -58.4% | -97.6% |
| Market cap | $5.6B | – |
| P/E (trailing) | 37.3 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACMR | FNGD |
|---|---|---|
| 2022 | -72.9% | +52.2% |
| 2023 | +153.4% | -90.1% |
| 2024 | -22.7% | -76.6% |
| 2025 | +161.3% | -61.4% |
| 2026 | +104.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACMR and FNGD good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACMR and FNGD?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.38 over the last year and -0.38 over 5 years.
Is FNGD a good diversifier for ACMR?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acmr-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acmr-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACMR correlations · FNGD correlations
