DDOG vs FNGD: Correlation
How closely do Datadog (DDOG) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDOG and FNGD?
Across a 3-year window, the weekly returns of DDOG and FNGD correlate at -0.43, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.26 versus -0.43 over 3 years. Stretching to 5 years gives -0.55, with an annualized covariance of -1780.6 %².
Among the 30 assets we track against DDOG, FNGD sits near the bottom by co-movement, at rank #30. Correlation aside, the last 12 months split them widely, with DDOG ahead by 140.1 points (+84.4% versus -55.7%).
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.
DDOG vs FNGD: side by side
| DDOG (Datadog) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +84.4% | -55.7% |
| 5-year return | +77.8% | -99.4% |
| Volatility (ann.) | 54.6% | 75.7% |
| Beta vs S&P 500 | 1.37 | -4.54 |
| Max drawdown (3Y) | -48.6% | -97.6% |
| Market cap | $87.2B | – |
| P/E (trailing) | 458.4 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | DDOG | FNGD |
|---|---|---|
| 2022 | -58.7% | +52.2% |
| 2023 | +65.1% | -90.1% |
| 2024 | +17.7% | -76.6% |
| 2025 | -4.8% | -61.4% |
| 2026 | +78.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DDOG and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between DDOG and FNGD?
The DDOG/FNGD correlation stands at -0.43 on a 3-year window (1 year: -0.26, 5 years: -0.55), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DDOG?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
A reading of -0.43 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/ddog-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ddog-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DDOG correlations · FNGD correlations
