COTY vs FNGD: Correlation
Measured on weekly returns over the past three years, Coty Inc. (COTY) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COTY and FNGD?
Over the past 3 years, COTY and FNGD moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.30 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -982.6 %².
FNGD is close to the least connected end of COTY's tracked universe, ranking #10 of 10. The last year tells two different stories: COTY led by 21.4 percentage points, -34.3% for COTY against -55.7% for FNGD. One caveat on sizing: FNGD is 1.8 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.
COTY vs FNGD: side by side
| COTY (Coty Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -34.3% | -55.7% |
| 5-year return | -71.0% | -99.4% |
| Volatility (ann.) | 42.5% | 75.7% |
| Beta vs S&P 500 | 1.08 | -4.54 |
| Max drawdown (3Y) | -86.0% | -97.6% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COTY | FNGD |
|---|---|---|
| 2022 | -18.5% | +52.2% |
| 2023 | +45.1% | -90.1% |
| 2024 | -44.0% | -76.6% |
| 2025 | -55.7% | -61.4% |
| 2026 | -10.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COTY and FNGD good diversifiers for each other?
Yes. With a correlation of -0.30, COTY and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COTY and FNGD?
As of 2026-08-27, the correlation of weekly returns between COTY and FNGD is -0.30 over 3 years, -0.41 over 1 year and -0.37 over 5 years.
Is FNGD a good diversifier for COTY?
Yes. With a correlation of -0.30, COTY and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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/coty-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coty-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COTY correlations · FNGD correlations
