DIS vs FNGD: Correlation
Walt Disney Company (The) (DIS) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIS and FNGD?
Across a 3-year window, the weekly returns of DIS and FNGD correlate at -0.41, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.56 versus -0.41 over 3 years. Stretching to 5 years gives -0.47, with an annualized covariance of -858.4 %².
Out of 37 assets tracked against DIS, FNGD lands near the bottom at #35. Their recent paths diverged sharply: over the last 12 months DIS outperformed by 47.5 percentage points (-8.2% for DIS against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 2.7 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.
DIS vs FNGD: side by side
| DIS (Walt Disney Company (The)) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -8.2% | -55.7% |
| 5-year return | -38.8% | -99.4% |
| Volatility (ann.) | 27.7% | 75.7% |
| Beta vs S&P 500 | 0.96 | -4.54 |
| Max drawdown (3Y) | -32.9% | -97.6% |
| Market cap | $184.4B | – |
| P/E (trailing) | 22.6 | 20.6 |
| Dividend yield | 1.37% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | DIS | FNGD |
|---|---|---|
| 2022 | -43.9% | +52.2% |
| 2023 | +4.3% | -90.1% |
| 2024 | +24.4% | -76.6% |
| 2025 | +3.3% | -61.4% |
| 2026 | -5.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIS and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between DIS and FNGD?
As of 2026-08-27, the correlation of weekly returns between DIS and FNGD is -0.41 over 3 years, -0.56 over 1 year and -0.47 over 5 years.
Is FNGD a good diversifier for DIS?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
A reading of -0.41 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/dis-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dis-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIS correlations · FNGD correlations
