CSGP vs FNGD: Correlation
Measured on weekly returns over the past three years, CoStar Group (CSGP) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSGP and FNGD?
Over the past 3 years, CSGP and FNGD moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.25). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -686.0 %².
Among the 34 assets we track against CSGP, FNGD sits near the bottom by co-movement, at rank #32. On 12-month performance FNGD holds a 9.3-point edge, -65.0% against -55.7%. One caveat on sizing: FNGD is 2.1 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.
CSGP vs FNGD: side by side
| CSGP (CoStar Group) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -65.0% | -55.7% |
| 5-year return | -62.7% | -99.4% |
| Volatility (ann.) | 36.5% | 75.7% |
| Beta vs S&P 500 | 0.86 | -4.54 |
| Max drawdown (3Y) | -72.2% | -97.6% |
| Market cap | $12.7B | – |
| P/E (trailing) | 174.1 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CSGP | FNGD |
|---|---|---|
| 2022 | -2.2% | +52.2% |
| 2023 | +13.1% | -90.1% |
| 2024 | -18.1% | -76.6% |
| 2025 | -6.1% | -61.4% |
| 2026 | -53.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSGP and FNGD good diversifiers for each other?
Yes. With a correlation of -0.25, CSGP and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CSGP and FNGD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.12 over the last year and -0.36 over 5 years.
Is FNGD a good diversifier for CSGP?
Yes. With a correlation of -0.25, CSGP and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CSGP correlations · FNGD correlations
