ADBE vs FNGD: Correlation
Adobe Inc. (ADBE) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADBE and FNGD?
Over the past 3 years, ADBE and FNGD moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.37) sits close to the 3-year figure. Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -1137.8 %².
FNGD is close to the least connected end of ADBE's tracked universe, ranking #32 of 32. Correlation aside, the last 12 months split them widely, with ADBE ahead by 36.8 points (-18.9% versus -55.7%). One caveat on sizing: FNGD is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ADBE vs FNGD: side by side
| ADBE (Adobe Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -18.9% | -55.7% |
| 5-year return | -56.6% | -99.4% |
| Volatility (ann.) | 35.1% | 75.7% |
| Beta vs S&P 500 | 1.04 | -4.54 |
| Max drawdown (3Y) | -69.5% | -97.6% |
| Market cap | $114.9B | – |
| P/E (trailing) | 15.6 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ADBE | FNGD |
|---|---|---|
| 2022 | -40.7% | +52.2% |
| 2023 | +77.3% | -90.1% |
| 2024 | -25.5% | -76.6% |
| 2025 | -21.3% | -61.4% |
| 2026 | -17.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADBE and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADBE and FNGD?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.37 over the last year and -0.56 over 5 years.
Is FNGD a good diversifier for ADBE?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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/adbe-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adbe-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADBE correlations · FNGD correlations
