DDC vs FNGD: Correlation
How closely do DDC Enterprise Limited Class A (DDC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDC and FNGD?
Over the past 3 years, DDC and FNGD moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2486.0 %².
Out of 11 assets tracked against DDC, FNGD lands near the bottom at #11. The last year tells two different stories: FNGD led by 40.0 percentage points, -95.7% for DDC against -55.7% for FNGD. One caveat on sizing: DDC is 2.1 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.
DDC vs FNGD: side by side
| DDC (DDC Enterprise Limited Class A) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -95.7% | -55.7% |
| 5-year return | n/a | -99.4% |
| Volatility (ann.) | 158.5% | 75.7% |
| Beta vs S&P 500 | 2.55 | -4.54 |
| Max drawdown (3Y) | -99.8% | -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 | DDC | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | – | -90.1% |
| 2024 | -96.3% | -76.6% |
| 2025 | -53.1% | -61.4% |
| 2026 | -73.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DDC and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between DDC and FNGD?
As of 2026-08-27, the correlation of weekly returns between DDC and FNGD is -0.21 over 3 years, -0.28 over 1 year and n/a over 5 years.
Is FNGD a good diversifier for DDC?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/ddc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ddc-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DDC correlations · FNGD correlations
