DELL vs FNGD: Correlation
How closely do Dell Technologies (DELL) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.49, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and FNGD?
Across a 3-year window, the weekly returns of DELL and FNGD correlate at -0.49, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. Stretching to 5 years gives -0.45, with an annualized covariance of -2285.2 %².
Out of 29 assets tracked against DELL, FNGD lands near the bottom at #29. Their recent paths diverged sharply: over the last 12 months DELL outperformed by 316.7 percentage points (+261.0% for DELL against -55.7% for FNGD).
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.
DELL vs FNGD: side by side
| DELL (Dell Technologies) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +261.0% | -55.7% |
| 5-year return | +945.0% | -99.4% |
| Volatility (ann.) | 61.3% | 75.7% |
| Beta vs S&P 500 | 2.02 | -4.54 |
| Max drawdown (3Y) | -59.6% | -97.6% |
| Market cap | $305.1B | – |
| P/E (trailing) | 36.9 | 20.6 |
| Dividend yield | 0.48% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | DELL | FNGD |
|---|---|---|
| 2022 | -26.6% | +52.2% |
| 2023 | +95.9% | -90.1% |
| 2024 | +53.0% | -76.6% |
| 2025 | +11.2% | -61.4% |
| 2026 | +278.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and FNGD good diversifiers for each other?
Yes. With a correlation of -0.49, DELL and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DELL and FNGD?
Using weekly returns as of 2026-08-27: -0.49 over 3 years, with -0.43 over the last year and -0.45 over 5 years.
Is FNGD a good diversifier for DELL?
Yes. With a correlation of -0.49, DELL and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dell-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dell-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DELL correlations · FNGD correlations
