ANF vs FNGD: Correlation
Abercrombie & Fitch Company (ANF) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANF and FNGD?
On 3 years of weekly data the ANF/FNGD correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.28 over 3 years. The 5-year figure is -0.30, and annualized covariance runs at -1244.6 %².
FNGD is close to the least connected end of ANF's tracked universe, ranking #10 of 12. Correlation aside, the last 12 months split them widely, with ANF ahead by 108.5 points (+52.8% 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.
ANF vs FNGD: side by side
| ANF (Abercrombie & Fitch Company) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +52.8% | -55.7% |
| 5-year return | +299.1% | -99.4% |
| Volatility (ann.) | 57.9% | 75.7% |
| Beta vs S&P 500 | 1.47 | -4.54 |
| Max drawdown (3Y) | -65.9% | -97.6% |
| Market cap | $6.5B | – |
| P/E (trailing) | 12.8 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANF | FNGD |
|---|---|---|
| 2022 | -34.2% | +52.2% |
| 2023 | +285.1% | -90.1% |
| 2024 | +69.4% | -76.6% |
| 2025 | -15.8% | -61.4% |
| 2026 | +15.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANF and FNGD good diversifiers for each other?
Yes. With a correlation of -0.28, ANF and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANF and FNGD?
The ANF/FNGD correlation stands at -0.28 on a 3-year window (1 year: -0.16, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ANF?
Yes. With a correlation of -0.28, ANF and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/anf-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anf-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANF correlations · FNGD correlations
