CSCO vs FNGD: Correlation
How closely do Cisco (CSCO) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSCO and FNGD?
On 3 years of weekly data the CSCO/FNGD correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.33). The 5-year figure is -0.38, and annualized covariance runs at -660.2 %².
Among the 30 assets we track against CSCO, FNGD sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months CSCO outperformed by 123.0 percentage points (+67.3% for CSCO against -55.7% for FNGD). One caveat on sizing: FNGD is 2.9 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.
CSCO vs FNGD: side by side
| CSCO (Cisco) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +67.3% | -55.7% |
| 5-year return | +118.1% | -99.4% |
| Volatility (ann.) | 26.4% | 75.7% |
| Beta vs S&P 500 | 0.84 | -4.54 |
| Max drawdown (3Y) | -20.2% | -97.6% |
| Market cap | $442.0B | – |
| P/E (trailing) | 33.8 | 20.6 |
| Dividend yield | 1.48% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CSCO | FNGD |
|---|---|---|
| 2022 | -22.5% | +52.2% |
| 2023 | +9.3% | -90.1% |
| 2024 | +21.0% | -76.6% |
| 2025 | +33.5% | -61.4% |
| 2026 | +47.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSCO and FNGD good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CSCO and FNGD?
As of 2026-08-27, the correlation of weekly returns between CSCO and FNGD is -0.33 over 3 years, -0.20 over 1 year and -0.38 over 5 years.
Is FNGD a good diversifier for CSCO?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/csco-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csco-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSCO correlations · FNGD correlations
