CCC vs FNGD: Correlation
How closely do CCC Intelligent Solutions Holdings Inc. (CCC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCC and FNGD?
Over the past 3 years, CCC and FNGD moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -934.2 %².
FNGD is close to the least connected end of CCC's tracked universe, ranking #21 of 21. The last year tells two different stories: CCC led by 33.0 percentage points, -22.7% for CCC against -55.7% for FNGD. One caveat on sizing: FNGD is 1.9 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.
CCC vs FNGD: side by side
| CCC (CCC Intelligent Solutions Holdings Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -22.7% | -55.7% |
| 5-year return | -30.0% | -99.4% |
| Volatility (ann.) | 39.5% | 75.7% |
| Beta vs S&P 500 | 0.83 | -4.54 |
| Max drawdown (3Y) | -68.4% | -97.6% |
| Market cap | $4.5B | – |
| P/E (trailing) | 108.6 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCC | FNGD |
|---|---|---|
| 2022 | -23.6% | +52.2% |
| 2023 | +30.9% | -90.1% |
| 2024 | +3.0% | -76.6% |
| 2025 | -32.2% | -61.4% |
| 2026 | -4.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCC and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCC and FNGD?
As of 2026-08-27, the correlation of weekly returns between CCC and FNGD is -0.31 over 3 years, -0.27 over 1 year and -0.38 over 5 years.
Is FNGD a good diversifier for CCC?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccc-vs-fngd/)
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Related comparisons
Hubs: CCC correlations · FNGD correlations
