BST vs FNGD: Correlation
BlackRock Science and Technology Trust (BST) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BST and FNGD?
Across a 3-year window, the weekly returns of BST and FNGD correlate at -0.81, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.74 over 1 year against -0.81 over 3. Stretching to 5 years gives -0.80, with an annualized covariance of -1368.8 %².
Out of 25 assets tracked against BST, FNGD lands near the bottom at #25. Their recent paths diverged sharply: over the last 12 months BST outperformed by 96.4 percentage points (+40.7% for BST against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 3.4 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.
BST vs FNGD: side by side
| BST (BlackRock Science and Technology Trust) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +40.7% | -55.7% |
| 5-year return | +46.7% | -99.4% |
| Volatility (ann.) | 22.2% | 75.7% |
| Beta vs S&P 500 | 1.27 | -4.54 |
| Max drawdown (3Y) | -23.4% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | 6.9 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BST | FNGD |
|---|---|---|
| 2022 | -38.3% | +52.2% |
| 2023 | +30.1% | -90.1% |
| 2024 | +18.0% | -76.6% |
| 2025 | +23.7% | -61.4% |
| 2026 | +30.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BST and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.81 means the two rarely move for the same reasons.
FAQ
What is the correlation between BST and FNGD?
The BST/FNGD correlation stands at -0.81 on a 3-year window (1 year: -0.74, 5 years: -0.80), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for BST?
By historical standards, yes. A correlation of -0.81 means the two rarely move for the same reasons.
What does a correlation of -0.81 mean?
A reading of -0.81 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/bst-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bst-vs-fngd/)
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Related comparisons
Hubs: BST correlations · FNGD correlations
