ADX vs FNGD: Correlation
Measured on weekly returns over the past three years, Adams Diversified Equity Fund Inc. (ADX) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.80, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADX and FNGD?
Over the past 3 years, ADX and FNGD moved with a correlation of -0.80, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.67) than the 3-year average (-0.80). Over 5 years the correlation is -0.77, and the annualized covariance of weekly returns is -950.1 %².
FNGD is close to the least connected end of ADX's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with ADX ahead by 85.2 points (+29.5% versus -55.7%). Risk is not evenly split, since FNGD carries 4.8 times the volatility of the other side.
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.
ADX vs FNGD: side by side
| ADX (Adams Diversified Equity Fund Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +29.5% | -55.7% |
| 5-year return | +88.9% | -99.4% |
| Volatility (ann.) | 15.7% | 75.7% |
| Beta vs S&P 500 | 0.96 | -4.54 |
| Max drawdown (3Y) | -18.3% | -97.6% |
| Market cap | $3.3B | – |
| P/E (trailing) | 5.3 | 20.6 |
| Dividend yield | 7.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADX | FNGD |
|---|---|---|
| 2022 | -19.8% | +52.2% |
| 2023 | +31.5% | -90.1% |
| 2024 | +28.3% | -76.6% |
| 2025 | +26.0% | -61.4% |
| 2026 | +18.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADX and FNGD good diversifiers for each other?
Yes. With a correlation of -0.80, ADX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ADX and FNGD?
The ADX/FNGD correlation stands at -0.80 on a 3-year window (1 year: -0.67, 5 years: -0.77), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ADX?
Yes. With a correlation of -0.80, ADX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.80 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adx-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adx-vs-fngd/)
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Related comparisons
Hubs: ADX correlations · FNGD correlations
