AMPL vs FNGD: Correlation
Measured on weekly returns over the past three years, Amplitude, Inc. (AMPL) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMPL and FNGD?
Across a 3-year window, the weekly returns of AMPL and FNGD correlate at -0.38, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.38 over 3. Stretching to 5 years gives -0.41, with an annualized covariance of -1618.7 %².
Among the 29 assets we track against AMPL, FNGD sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months AMPL outperformed by 80.4 percentage points (+24.7% for AMPL 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.
AMPL vs FNGD: side by side
| AMPL (Amplitude, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +24.7% | -55.7% |
| 5-year return | -73.9% | -99.4% |
| Volatility (ann.) | 56.0% | 75.7% |
| Beta vs S&P 500 | 1.42 | -4.54 |
| Max drawdown (3Y) | -61.1% | -97.6% |
| Market cap | $1.9B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMPL | FNGD |
|---|---|---|
| 2022 | -77.2% | +52.2% |
| 2023 | +5.3% | -90.1% |
| 2024 | -17.1% | -76.6% |
| 2025 | +9.8% | -61.4% |
| 2026 | +23.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMPL and FNGD good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMPL and FNGD?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.39 over the last year and -0.41 over 5 years.
Is FNGD a good diversifier for AMPL?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 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/ampl-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ampl-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMPL correlations · FNGD correlations
