AMPX vs FNGD: Correlation
How closely do Amprius Technologies, Inc. (AMPX) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMPX and FNGD?
On 3 years of weekly data the AMPX/FNGD correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.29 over 3 years. The 5-year figure is -0.22, and annualized covariance runs at -2425.5 %².
Among the 15 assets we track against AMPX, FNGD sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with AMPX ahead by 99.7 points (+44.0% 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.
AMPX vs FNGD: side by side
| AMPX (Amprius Technologies, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +44.0% | -55.7% |
| 5-year return | n/a | -99.4% |
| Volatility (ann.) | 111.6% | 75.7% |
| Beta vs S&P 500 | 2.16 | -4.54 |
| Max drawdown (3Y) | -87.3% | -97.6% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMPX | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | -33.3% | -90.1% |
| 2024 | -47.1% | -76.6% |
| 2025 | +181.8% | -61.4% |
| 2026 | +33.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMPX and FNGD good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMPX and FNGD?
The AMPX/FNGD correlation stands at -0.29 on a 3-year window (1 year: -0.45, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AMPX?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/ampx-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ampx-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMPX correlations · FNGD correlations
