ADSK vs FNGD: Correlation
How closely do Autodesk (ADSK) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.51, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSK and FNGD?
Across a 3-year window, the weekly returns of ADSK and FNGD correlate at -0.51, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.37 versus -0.51 over 3 years. Stretching to 5 years gives -0.61, with an annualized covariance of -1196.2 %².
FNGD is close to the least connected end of ADSK's tracked universe, ranking #44 of 44. The last year tells two different stories: ADSK led by 50.3 percentage points, -5.4% for ADSK against -55.7% for FNGD. One caveat on sizing: FNGD is 2.4 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.
ADSK vs FNGD: side by side
| ADSK (Autodesk) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -5.4% | -55.7% |
| 5-year return | -13.7% | -99.4% |
| Volatility (ann.) | 30.9% | 75.7% |
| Beta vs S&P 500 | 1.04 | -4.54 |
| Max drawdown (3Y) | -42.6% | -97.6% |
| Market cap | $57.1B | – |
| P/E (trailing) | 37.2 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ADSK | FNGD |
|---|---|---|
| 2022 | -33.5% | +52.2% |
| 2023 | +30.3% | -90.1% |
| 2024 | +21.4% | -76.6% |
| 2025 | +0.1% | -61.4% |
| 2026 | -8.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSK and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADSK and FNGD?
The ADSK/FNGD correlation stands at -0.51 on a 3-year window (1 year: -0.37, 5 years: -0.61), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ADSK?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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/adsk-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adsk-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADSK correlations · FNGD correlations
