DD vs FNGD: Correlation
Measured on weekly returns over the past three years, DuPont (DD) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DD and FNGD?
Over the past 3 years, DD and FNGD moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.27). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -580.5 %².
FNGD is close to the least connected end of DD's tracked universe, ranking #31 of 34. The last year tells two different stories: DD led by 100.4 percentage points, +44.7% for DD against -55.7% for FNGD. One caveat on sizing: FNGD is 2.6 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.
DD vs FNGD: side by side
| DD (DuPont) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +44.7% | -55.7% |
| 5-year return | +64.0% | -99.4% |
| Volatility (ann.) | 28.8% | 75.7% |
| Beta vs S&P 500 | 0.93 | -4.54 |
| Max drawdown (3Y) | -37.8% | -97.6% |
| Market cap | $18.7B | – |
| P/E (trailing) | 59.1 | 20.6 |
| Dividend yield | 2.20% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DD | FNGD |
|---|---|---|
| 2022 | -13.4% | +52.2% |
| 2023 | +14.4% | -90.1% |
| 2024 | +1.0% | -76.6% |
| 2025 | +28.7% | -61.4% |
| 2026 | +16.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DD 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 DD and FNGD?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.08 over the last year and -0.39 over 5 years.
Is FNGD a good diversifier for DD?
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/dd-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dd-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DD correlations · FNGD correlations
