AYA vs FNGD: Correlation
Measured on weekly returns over the past three years, Aya Gold & Silver Inc. (AYA) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AYA and FNGD?
Across a 3-year window, the weekly returns of AYA and FNGD correlate at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.30 over 3 years. Stretching to 5 years gives -0.24, with an annualized covariance of -1693.2 %².
Among the 14 assets we track against AYA, FNGD sits near the bottom by co-movement, at rank #14. The last year tells two different stories: AYA led by 268.3 percentage points, +212.6% for AYA 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.
AYA vs FNGD: side by side
| AYA (Aya Gold & Silver Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +212.6% | -55.7% |
| 5-year return | +267.0% | -99.4% |
| Volatility (ann.) | 73.7% | 75.7% |
| Beta vs S&P 500 | 1.95 | -4.54 |
| Max drawdown (3Y) | -56.1% | -97.6% |
| Market cap | $4.2B | – |
| P/E (trailing) | 36.2 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AYA | FNGD |
|---|---|---|
| 2022 | -11.0% | +52.2% |
| 2023 | +10.4% | -90.1% |
| 2024 | +2.0% | -76.6% |
| 2025 | +92.4% | -61.4% |
| 2026 | +103.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AYA and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between AYA and FNGD?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.49 over the last year and -0.24 over 5 years.
Is FNGD a good diversifier for AYA?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/aya-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aya-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AYA correlations · FNGD correlations
