AUR vs FNGD: Correlation
Measured on weekly returns over the past three years, Aurora Innovation, Inc. (AUR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUR and FNGD?
Across a 3-year window, the weekly returns of AUR and FNGD correlate at -0.41, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.49) sits close to the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -2559.2 %².
Out of 13 assets tracked against AUR, FNGD lands near the bottom at #13. The last year tells two different stories: AUR led by 55.2 percentage points, -0.5% for AUR against -55.7% for FNGD.
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.
AUR vs FNGD: side by side
| AUR (Aurora Innovation, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -0.5% | -55.7% |
| 5-year return | -42.3% | -99.4% |
| Volatility (ann.) | 81.8% | 75.7% |
| Beta vs S&P 500 | 2.61 | -4.54 |
| Max drawdown (3Y) | -63.0% | -97.6% |
| Market cap | $11.4B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AUR | FNGD |
|---|---|---|
| 2022 | -89.3% | +52.2% |
| 2023 | +261.2% | -90.1% |
| 2024 | +44.2% | -76.6% |
| 2025 | -39.0% | -61.4% |
| 2026 | +48.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUR and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between AUR and FNGD?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.49 over the last year and -0.43 over 5 years.
Is FNGD a good diversifier for AUR?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
A reading of -0.41 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
$ curl https://www.pairbook.io/api/v1/pairs/aur-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aur-vs-fngd/)
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Related comparisons
Hubs: AUR correlations · FNGD correlations
