CXDO vs FNGD: Correlation
How closely do Crexendo, Inc. (CXDO) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXDO and FNGD?
Across a 3-year window, the weekly returns of CXDO and FNGD correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.35 over 3 years. Stretching to 5 years gives -0.30, with an annualized covariance of -1788.4 %².
FNGD is close to the least connected end of CXDO's tracked universe, ranking #13 of 13. The last year tells two different stories: CXDO led by 58.3 percentage points, +2.6% for CXDO against -55.7% for FNGD.
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.
CXDO vs FNGD: side by side
| CXDO (Crexendo, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +2.6% | -55.7% |
| 5-year return | +9.7% | -99.4% |
| Volatility (ann.) | 67.1% | 75.7% |
| Beta vs S&P 500 | 1.77 | -4.54 |
| Max drawdown (3Y) | -60.4% | -97.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | 49.4 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXDO | FNGD |
|---|---|---|
| 2022 | -61.7% | +52.2% |
| 2023 | +156.1% | -90.1% |
| 2024 | +7.8% | -76.6% |
| 2025 | +23.7% | -61.4% |
| 2026 | -0.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXDO and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between CXDO and FNGD?
The CXDO/FNGD correlation stands at -0.35 on a 3-year window (1 year: -0.50, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CXDO?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
A reading of -0.35 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/cxdo-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cxdo-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CXDO correlations · FNGD correlations
