ATLX vs FNGD: Correlation
Atlas Lithium Corporation (ATLX) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLX and FNGD?
Across a 3-year window, the weekly returns of ATLX and FNGD correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -1566.4 %².
Out of 13 assets tracked against ATLX, FNGD lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with ATLX ahead by 18.3 points (-37.4% 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.
ATLX vs FNGD: side by side
| ATLX (Atlas Lithium Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -37.4% | -55.7% |
| 5-year return | -55.9% | -99.4% |
| Volatility (ann.) | 79.3% | 75.7% |
| Beta vs S&P 500 | 1.64 | -4.54 |
| Max drawdown (3Y) | -92.3% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLX | FNGD |
|---|---|---|
| 2022 | +16.7% | +52.2% |
| 2023 | +346.9% | -90.1% |
| 2024 | -79.8% | -76.6% |
| 2025 | -33.2% | -61.4% |
| 2026 | -21.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLX and FNGD good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ATLX and FNGD?
As of 2026-08-27, the correlation of weekly returns between ATLX and FNGD is -0.26 over 3 years, -0.32 over 1 year and -0.09 over 5 years.
Is FNGD a good diversifier for ATLX?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/atlx-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atlx-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATLX correlations · FNGD correlations
