CRCT vs FNGD: Correlation
Cricut, Inc. (CRCT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRCT and FNGD?
On 3 years of weekly data the CRCT/FNGD correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.22 over 3 years. The 5-year figure is -0.33, and annualized covariance runs at -815.0 %².
FNGD is close to the least connected end of CRCT's tracked universe, ranking #9 of 10. The last year tells two different stories: CRCT led by 58.1 percentage points, +2.4% for CRCT against -55.7% for FNGD. One caveat on sizing: FNGD is 1.5 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.
CRCT vs FNGD: side by side
| CRCT (Cricut, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +2.4% | -55.7% |
| 5-year return | -70.1% | -99.4% |
| Volatility (ann.) | 49.2% | 75.7% |
| Beta vs S&P 500 | 0.94 | -4.54 |
| Max drawdown (3Y) | -53.2% | -97.6% |
| Market cap | $1.2B | – |
| P/E (trailing) | 14.2 | 20.6 |
| Dividend yield | 3.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRCT | FNGD |
|---|---|---|
| 2022 | -58.0% | +52.2% |
| 2023 | -20.1% | -90.1% |
| 2024 | -4.9% | -76.6% |
| 2025 | +0.1% | -61.4% |
| 2026 | +19.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRCT and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRCT and FNGD?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.38 over the last year and -0.33 over 5 years.
Is FNGD a good diversifier for CRCT?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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/crct-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crct-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRCT correlations · FNGD correlations
