AUDC vs FNGD: Correlation
Measured on weekly returns over the past three years, AudioCodes Ltd. (AUDC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUDC and FNGD?
On 3 years of weekly data the AUDC/FNGD correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.22) runs above the 3-year figure (-0.35). The 5-year figure is -0.38, and annualized covariance runs at -1208.0 %².
Among the 12 assets we track against AUDC, FNGD sits near the bottom by co-movement, at rank #11. The last year tells two different stories: AUDC led by 69.6 percentage points, +13.9% for AUDC against -55.7% for FNGD. One caveat on sizing: FNGD is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AUDC vs FNGD: side by side
| AUDC (AudioCodes Ltd.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +13.9% | -55.7% |
| 5-year return | -62.9% | -99.4% |
| Volatility (ann.) | 45.8% | 75.7% |
| Beta vs S&P 500 | 1.24 | -4.54 |
| Max drawdown (3Y) | -46.4% | -97.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | 40.9 | 20.6 |
| Dividend yield | 3.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AUDC | FNGD |
|---|---|---|
| 2022 | -47.8% | +52.2% |
| 2023 | -30.7% | -90.1% |
| 2024 | -16.8% | -76.6% |
| 2025 | -7.1% | -61.4% |
| 2026 | +22.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUDC and FNGD good diversifiers for each other?
Yes. With a correlation of -0.35, AUDC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AUDC and FNGD?
As of 2026-08-27, the correlation of weekly returns between AUDC and FNGD is -0.35 over 3 years, -0.22 over 1 year and -0.38 over 5 years.
Is FNGD a good diversifier for AUDC?
Yes. With a correlation of -0.35, AUDC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: AUDC correlations · FNGD correlations
