AYI vs FNGD: Correlation
Measured on weekly returns over the past three years, Acuity Inc. (AYI) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AYI and FNGD?
On 3 years of weekly data the AYI/FNGD correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.13 versus -0.42 over 3 years. The 5-year figure is -0.43, and annualized covariance runs at -953.8 %².
Among the 12 assets we track against AYI, FNGD sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with AYI ahead by 58.3 points (+2.6% versus -55.7%). One caveat on sizing: FNGD is 2.5 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.
AYI vs FNGD: side by side
| AYI (Acuity Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +2.6% | -55.7% |
| 5-year return | +86.6% | -99.4% |
| Volatility (ann.) | 30.1% | 75.7% |
| Beta vs S&P 500 | 1.13 | -4.54 |
| Max drawdown (3Y) | -33.7% | -97.6% |
| Market cap | $10.2B | – |
| P/E (trailing) | 22.7 | 20.6 |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AYI | FNGD |
|---|---|---|
| 2022 | -21.5% | +52.2% |
| 2023 | +24.1% | -90.1% |
| 2024 | +42.9% | -76.6% |
| 2025 | +23.5% | -61.4% |
| 2026 | -4.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AYI and FNGD good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AYI and FNGD?
As of 2026-08-27, the correlation of weekly returns between AYI and FNGD is -0.42 over 3 years, -0.13 over 1 year and -0.43 over 5 years.
Is FNGD a good diversifier for AYI?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
A reading of -0.42 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/ayi-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ayi-vs-fngd/)
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Related comparisons
Hubs: AYI correlations · FNGD correlations
