AMKR vs FNGD: Correlation
How closely do Amkor Technology, Inc. (AMKR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMKR and FNGD?
On 3 years of weekly data the AMKR/FNGD correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.35) than the 3-year average (-0.47). The 5-year figure is -0.51, and annualized covariance runs at -2054.5 %².
FNGD is close to the least connected end of AMKR's tracked universe, ranking #16 of 17. Correlation aside, the last 12 months split them widely, with AMKR ahead by 168.0 points (+112.3% 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.
AMKR vs FNGD: side by side
| AMKR (Amkor Technology, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +112.3% | -55.7% |
| 5-year return | +98.2% | -99.4% |
| Volatility (ann.) | 57.4% | 75.7% |
| Beta vs S&P 500 | 2.24 | -4.54 |
| Max drawdown (3Y) | -65.9% | -97.6% |
| Market cap | $12.9B | – |
| P/E (trailing) | 21.6 | 20.6 |
| Dividend yield | 0.69% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMKR | FNGD |
|---|---|---|
| 2022 | -2.3% | +52.2% |
| 2023 | +40.3% | -90.1% |
| 2024 | -20.8% | -76.6% |
| 2025 | +55.9% | -61.4% |
| 2026 | +31.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMKR and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMKR and FNGD?
The AMKR/FNGD correlation stands at -0.47 on a 3-year window (1 year: -0.35, 5 years: -0.51), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AMKR?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/amkr-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amkr-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMKR correlations · FNGD correlations
