DASH vs FNGD: Correlation
DoorDash (DASH) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DASH and FNGD?
Over the past 3 years, DASH and FNGD moved with a correlation of -0.54, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.51) sits close to the 3-year figure. Over 5 years the correlation is -0.60, and the annualized covariance of weekly returns is -1793.2 %².
Among the 36 assets we track against DASH, FNGD sits near the bottom by co-movement, at rank #36. Their recent paths diverged sharply: over the last 12 months DASH outperformed by 50.1 percentage points (-5.6% for DASH against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 1.7 times the volatility of the other side.
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.
DASH vs FNGD: side by side
| DASH (DoorDash) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -5.6% | -55.7% |
| 5-year return | +20.3% | -99.4% |
| Volatility (ann.) | 44.1% | 75.7% |
| Beta vs S&P 500 | 1.73 | -4.54 |
| Max drawdown (3Y) | -48.0% | -97.6% |
| Market cap | $101.0B | – |
| P/E (trailing) | 123.3 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | DASH | FNGD |
|---|---|---|
| 2022 | -67.2% | +52.2% |
| 2023 | +102.6% | -90.1% |
| 2024 | +69.6% | -76.6% |
| 2025 | +35.0% | -61.4% |
| 2026 | +2.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DASH and FNGD good diversifiers for each other?
Yes. With a correlation of -0.54, DASH and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DASH and FNGD?
As of 2026-08-27, the correlation of weekly returns between DASH and FNGD is -0.54 over 3 years, -0.51 over 1 year and -0.60 over 5 years.
Is FNGD a good diversifier for DASH?
Yes. With a correlation of -0.54, DASH and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.54 mean?
A reading of -0.54 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/dash-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dash-vs-fngd/)
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Related comparisons
Hubs: DASH correlations · FNGD correlations
