AMC vs FNGD: Correlation
AMC Entertainment Holdings, Inc. (AMC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMC and FNGD?
Over the past 3 years, AMC and FNGD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.22). Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -1354.8 %².
FNGD is close to the least connected end of AMC's tracked universe, ranking #9 of 11. The last year tells two different stories: AMC led by 50.8 percentage points, -4.9% for AMC against -55.7% for FNGD.
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.
AMC vs FNGD: side by side
| AMC (AMC Entertainment Holdings, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -4.9% | -55.7% |
| 5-year return | -99.4% | -99.4% |
| Volatility (ann.) | 79.7% | 75.7% |
| Beta vs S&P 500 | 1.44 | -4.54 |
| Max drawdown (3Y) | -93.0% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMC | FNGD |
|---|---|---|
| 2022 | -85.0% | +52.2% |
| 2023 | -85.0% | -90.1% |
| 2024 | -35.0% | -76.6% |
| 2025 | -60.8% | -61.4% |
| 2026 | +73.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMC and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMC and FNGD?
The AMC/FNGD correlation stands at -0.22 on a 3-year window (1 year: -0.42, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AMC?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amc-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMC correlations · FNGD correlations
