AEYE vs FNGD: Correlation
How closely do AudioEye, Inc. (AEYE) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEYE and FNGD?
On 3 years of weekly data the AEYE/FNGD correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.49) runs below the 3-year figure (-0.36). The 5-year figure is -0.38, and annualized covariance runs at -2332.5 %².
FNGD is close to the least connected end of AEYE's tracked universe, ranking #15 of 17. The trailing year gives AEYE the advantage: -41.4% versus -55.7%, a 14.3-point spread.
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.
AEYE vs FNGD: side by side
| AEYE (AudioEye, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -41.4% | -55.7% |
| 5-year return | -44.5% | -99.4% |
| Volatility (ann.) | 86.5% | 75.7% |
| Beta vs S&P 500 | 2.63 | -4.54 |
| Max drawdown (3Y) | -83.9% | -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 | AEYE | FNGD |
|---|---|---|
| 2022 | -45.4% | +52.2% |
| 2023 | +41.5% | -90.1% |
| 2024 | +180.6% | -76.6% |
| 2025 | -34.3% | -61.4% |
| 2026 | -28.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEYE and FNGD good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AEYE and FNGD?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.49 over the last year and -0.38 over 5 years.
Is FNGD a good diversifier for AEYE?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/aeye-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aeye-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEYE correlations · FNGD correlations
