APTV vs FNGD: Correlation
Aptiv (APTV) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APTV and FNGD?
On 3 years of weekly data the APTV/FNGD correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.16 over 3 years. The 5-year figure is -0.36, and annualized covariance runs at -442.7 %².
Among the 33 assets we track against APTV, FNGD ranks #26 by 3-year correlation. On 12-month performance APTV holds a 12.5-point edge, -43.2% against -55.7%. Note the risk asymmetry: FNGD runs 2.0 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.
APTV vs FNGD: side by side
| APTV (Aptiv) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -43.2% | -55.7% |
| 5-year return | -70.3% | -99.4% |
| Volatility (ann.) | 37.7% | 75.7% |
| Beta vs S&P 500 | 0.76 | -4.54 |
| Max drawdown (3Y) | -56.5% | -97.6% |
| Market cap | $9.4B | – |
| P/E (trailing) | 20.9 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | APTV | FNGD |
|---|---|---|
| 2022 | -43.5% | +52.2% |
| 2023 | -3.7% | -90.1% |
| 2024 | -32.6% | -76.6% |
| 2025 | +25.8% | -61.4% |
| 2026 | -40.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APTV and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between APTV and FNGD?
As of 2026-08-27, the correlation of weekly returns between APTV and FNGD is -0.16 over 3 years, -0.02 over 1 year and -0.36 over 5 years.
Is FNGD a good diversifier for APTV?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 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/aptv-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aptv-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APTV correlations · FNGD correlations
