CRM vs FNGD: Correlation
Measured on weekly returns over the past three years, Salesforce (CRM) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRM and FNGD?
On 3 years of weekly data the CRM/FNGD correlation comes out at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.31 versus -0.49 over 3 years. The 5-year figure is -0.59, and annualized covariance runs at -1392.8 %².
FNGD is close to the least connected end of CRM's tracked universe, ranking #68 of 68. Correlation aside, the last 12 months split them widely, with CRM ahead by 57.3 points (+1.6% versus -55.7%). One caveat on sizing: FNGD is 2.0 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.
CRM vs FNGD: side by side
| CRM (Salesforce) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +1.6% | -55.7% |
| 5-year return | -3.2% | -99.4% |
| Volatility (ann.) | 37.6% | 75.7% |
| Beta vs S&P 500 | 1.21 | -4.54 |
| Max drawdown (3Y) | -58.7% | -97.6% |
| Market cap | $207.4B | – |
| P/E (trailing) | 18.8 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CRM | FNGD |
|---|---|---|
| 2022 | -47.8% | +52.2% |
| 2023 | +98.5% | -90.1% |
| 2024 | +27.8% | -76.6% |
| 2025 | -20.2% | -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 CRM and FNGD good diversifiers for each other?
Yes: at -0.49, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRM and FNGD?
The CRM/FNGD correlation stands at -0.49 on a 3-year window (1 year: -0.31, 5 years: -0.59), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CRM?
Yes: at -0.49, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.49 mean?
A reading of -0.49 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/crm-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crm-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRM correlations · FNGD correlations
