BKNG vs FNGD: Correlation
Measured on weekly returns over the past three years, Booking Holdings (BKNG) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.54, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and FNGD?
Over the past 3 years, BKNG and FNGD moved with a correlation of -0.54, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.47 lands near the 3-year figure. Over 5 years the correlation is -0.53, and the annualized covariance of weekly returns is -1187.7 %².
Among the 39 assets we track against BKNG, FNGD sits near the bottom by co-movement, at rank #39. The last year tells two different stories: BKNG led by 46.6 percentage points, -9.1% for BKNG against -55.7% for FNGD. Risk is not evenly split, since FNGD carries 2.6 times the volatility of the other side.
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.
BKNG vs FNGD: side by side
| BKNG (Booking Holdings) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -9.1% | -55.7% |
| 5-year return | +127.1% | -99.4% |
| Volatility (ann.) | 29.1% | 75.7% |
| Beta vs S&P 500 | 1.11 | -4.54 |
| Max drawdown (3Y) | -33.4% | -97.6% |
| Market cap | $152.2B | – |
| P/E (trailing) | 23.2 | 20.6 |
| Dividend yield | 0.77% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | BKNG | FNGD |
|---|---|---|
| 2022 | -16.0% | +52.2% |
| 2023 | +76.0% | -90.1% |
| 2024 | +41.3% | -76.6% |
| 2025 | +8.6% | -61.4% |
| 2026 | -5.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and FNGD good diversifiers for each other?
Yes. With a correlation of -0.54, BKNG and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKNG and FNGD?
As of 2026-08-27, the correlation of weekly returns between BKNG and FNGD is -0.54 over 3 years, -0.47 over 1 year and -0.53 over 5 years.
Is FNGD a good diversifier for BKNG?
Yes. With a correlation of -0.54, BKNG and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.54 mean?
On the −1 to +1 scale, -0.54 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/bkng-vs-fngd.json
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Related comparisons
Hubs: BKNG correlations · FNGD correlations
