AXTI vs FNGD: Correlation
AXT Inc (AXTI) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTI and FNGD?
Across a 3-year window, the weekly returns of AXTI and FNGD correlate at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.25 over 3. Stretching to 5 years gives -0.31, with an annualized covariance of -2087.6 %².
Among the 10 assets we track against AXTI, FNGD sits near the bottom by co-movement, at rank #8. The last year tells two different stories: AXTI led by 2287.4 percentage points, +2231.7% for AXTI 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.
AXTI vs FNGD: side by side
| AXTI (AXT Inc) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +2231.7% | -55.7% |
| 5-year return | +615.0% | -99.4% |
| Volatility (ann.) | 109.1% | 75.7% |
| Beta vs S&P 500 | 2.64 | -4.54 |
| Max drawdown (3Y) | -78.5% | -97.6% |
| Market cap | $4.4B | – |
| P/E (trailing) | 2230.7 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXTI | FNGD |
|---|---|---|
| 2022 | -50.3% | +52.2% |
| 2023 | -45.2% | -90.1% |
| 2024 | -9.6% | -76.6% |
| 2025 | +653.5% | -61.4% |
| 2026 | +309.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTI and FNGD good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXTI and FNGD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.20 over the last year and -0.31 over 5 years.
Is FNGD a good diversifier for AXTI?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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.
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Related comparisons
Hubs: AXTI correlations · FNGD correlations
