AEC vs FNGD: Correlation
How closely do Anfield Energy Inc. (AEC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEC and FNGD?
On 3 years of weekly data the AEC/FNGD correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. The 5-year figure is -0.19, and annualized covariance runs at -2054.8 %².
Among the 11 assets we track against AEC, FNGD sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with AEC ahead by 44.7 points (-11.0% 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.
AEC vs FNGD: side by side
| AEC (Anfield Energy Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -11.0% | -55.7% |
| 5-year return | -37.7% | -99.4% |
| Volatility (ann.) | 102.5% | 75.7% |
| Beta vs S&P 500 | 1.85 | -4.54 |
| Max drawdown (3Y) | -65.7% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEC | FNGD |
|---|---|---|
| 2022 | -50.0% | +52.2% |
| 2023 | +50.0% | -90.1% |
| 2024 | +0.0% | -76.6% |
| 2025 | +14.0% | -61.4% |
| 2026 | -9.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEC and FNGD good diversifiers for each other?
Yes. With a correlation of -0.26, AEC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AEC and FNGD?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.34 over the last year and -0.19 over 5 years.
Is FNGD a good diversifier for AEC?
Yes. With a correlation of -0.26, AEC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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.
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Related comparisons
Hubs: AEC correlations · FNGD correlations
