DAIO vs FNGD: Correlation
Data I/O Corporation (DAIO) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAIO and FNGD?
On 3 years of weekly data the DAIO/FNGD correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is -0.24, and annualized covariance runs at -879.9 %².
FNGD is close to the least connected end of DAIO's tracked universe, ranking #14 of 16. Their recent paths diverged sharply: over the last 12 months DAIO outperformed by 55.0 percentage points (-0.7% for DAIO against -55.7% for FNGD). Note the risk asymmetry: FNGD runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DAIO vs FNGD: side by side
| DAIO (Data I/O Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -0.7% | -55.7% |
| 5-year return | -48.4% | -99.4% |
| Volatility (ann.) | 43.6% | 75.7% |
| Beta vs S&P 500 | 0.74 | -4.54 |
| Max drawdown (3Y) | -52.9% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAIO | FNGD |
|---|---|---|
| 2022 | -13.9% | +52.2% |
| 2023 | -25.9% | -90.1% |
| 2024 | -5.8% | -76.6% |
| 2025 | +14.4% | -61.4% |
| 2026 | -6.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAIO and FNGD good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DAIO and FNGD?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.24 over the last year and -0.24 over 5 years.
Is FNGD a good diversifier for DAIO?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/daio-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/daio-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAIO correlations · FNGD correlations
