AMP vs FNGD: Correlation
Ameriprise Financial (AMP) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMP and FNGD?
Across a 3-year window, the weekly returns of AMP and FNGD correlate at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.17) runs above the 3-year figure (-0.44). Stretching to 5 years gives -0.49, with an annualized covariance of -835.3 %².
FNGD is close to the least connected end of AMP's tracked universe, ranking #32 of 34. The last year tells two different stories: AMP led by 64.4 percentage points, +8.7% for AMP against -55.7% for FNGD. Note the risk asymmetry: FNGD runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMP vs FNGD: side by side
| AMP (Ameriprise Financial) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +8.7% | -55.7% |
| 5-year return | +119.2% | -99.4% |
| Volatility (ann.) | 25.0% | 75.7% |
| Beta vs S&P 500 | 1.09 | -4.54 |
| Max drawdown (3Y) | -26.4% | -97.6% |
| Market cap | $49.1B | – |
| P/E (trailing) | 13.5 | 20.6 |
| Dividend yield | 1.16% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AMP | FNGD |
|---|---|---|
| 2022 | +5.0% | +52.2% |
| 2023 | +24.0% | -90.1% |
| 2024 | +42.1% | -76.6% |
| 2025 | -6.7% | -61.4% |
| 2026 | +14.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMP and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMP and FNGD?
The AMP/FNGD correlation stands at -0.44 on a 3-year window (1 year: -0.17, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AMP?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 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/amp-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amp-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMP correlations · FNGD correlations
