AOD vs FNGD: Correlation
abrdn Total Dynamic Dividend Fund (AOD) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOD and FNGD?
Across a 3-year window, the weekly returns of AOD and FNGD correlate at -0.52, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. Stretching to 5 years gives -0.61, with an annualized covariance of -602.3 %².
Among the 26 assets we track against AOD, FNGD sits near the bottom by co-movement, at rank #24. The last year tells two different stories: AOD led by 87.5 percentage points, +31.8% for AOD against -55.7% for FNGD. Risk is not evenly split, since FNGD carries 4.9 times the volatility of the other side.
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.
AOD vs FNGD: side by side
| AOD (abrdn Total Dynamic Dividend Fund) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +31.8% | -55.7% |
| 5-year return | +70.1% | -99.4% |
| Volatility (ann.) | 15.4% | 75.7% |
| Beta vs S&P 500 | 0.81 | -4.54 |
| Max drawdown (3Y) | -16.7% | -97.6% |
| Market cap | $1.1B | – |
| P/E (trailing) | 4.1 | 20.6 |
| Dividend yield | 5.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOD | FNGD |
|---|---|---|
| 2022 | -17.1% | +52.2% |
| 2023 | +12.7% | -90.1% |
| 2024 | +16.1% | -76.6% |
| 2025 | +32.1% | -61.4% |
| 2026 | +18.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOD and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
FAQ
What is the correlation between AOD and FNGD?
The AOD/FNGD correlation stands at -0.52 on a 3-year window (1 year: -0.45, 5 years: -0.61), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for AOD?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
What does a correlation of -0.52 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
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Related comparisons
Hubs: AOD correlations · FNGD correlations
