CACC vs FNGD: Correlation
How closely do Credit Acceptance Corporation (CACC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CACC and FNGD?
On 3 years of weekly data the CACC/FNGD correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.39) sits close to the 3-year figure. The 5-year figure is -0.41, and annualized covariance runs at -1002.7 %².
FNGD is close to the least connected end of CACC's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months CACC outperformed by 73.4 percentage points (+17.7% for CACC against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 2.1 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.
CACC vs FNGD: side by side
| CACC (Credit Acceptance Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +17.7% | -55.7% |
| 5-year return | +4.2% | -99.4% |
| Volatility (ann.) | 36.8% | 75.7% |
| Beta vs S&P 500 | 1.30 | -4.54 |
| Max drawdown (3Y) | -32.7% | -97.6% |
| Market cap | $6.2B | – |
| P/E (trailing) | 13.1 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CACC | FNGD |
|---|---|---|
| 2022 | -31.0% | +52.2% |
| 2023 | +12.3% | -90.1% |
| 2024 | -11.9% | -76.6% |
| 2025 | -5.5% | -61.4% |
| 2026 | +35.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CACC and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between CACC and FNGD?
The CACC/FNGD correlation stands at -0.36 on a 3-year window (1 year: -0.39, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CACC?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
A reading of -0.36 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
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Related comparisons
Hubs: CACC correlations · FNGD correlations
