CSPI vs FNGD: Correlation
How closely do CSP Inc. (CSPI) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSPI and FNGD?
Across a 3-year window, the weekly returns of CSPI and FNGD correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.26, with an annualized covariance of -1820.2 %².
Among the 12 assets we track against CSPI, FNGD sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with CSPI ahead by 18.6 points (-37.1% versus -55.7%).
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.
CSPI vs FNGD: side by side
| CSPI (CSP Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -37.1% | -55.7% |
| 5-year return | +76.7% | -99.4% |
| Volatility (ann.) | 74.2% | 75.7% |
| Beta vs S&P 500 | 1.67 | -4.54 |
| Max drawdown (3Y) | -73.4% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 1.52% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSPI | FNGD |
|---|---|---|
| 2022 | +8.0% | +52.2% |
| 2023 | +108.9% | -90.1% |
| 2024 | +66.1% | -76.6% |
| 2025 | -21.6% | -61.4% |
| 2026 | -36.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSPI and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between CSPI and FNGD?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.39 over the last year and -0.26 over 5 years.
Is FNGD a good diversifier for CSPI?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cspi-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cspi-vs-fngd/)
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Related comparisons
Hubs: CSPI correlations · FNGD correlations
