DLTR vs FNGD: Correlation
How closely do Dollar Tree (DLTR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLTR and FNGD?
Over the past 3 years, DLTR and FNGD moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.09 lands near the 3-year figure. Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -501.5 %².
Within DLTR's tracked universe of 32 assets, FNGD comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DLTR ahead by 68.2 points (+12.5% versus -55.7%). Risk is not evenly split, since FNGD carries 2.0 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.
DLTR vs FNGD: side by side
| DLTR (Dollar Tree) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +12.5% | -55.7% |
| 5-year return | +39.7% | -99.4% |
| Volatility (ann.) | 37.3% | 75.7% |
| Beta vs S&P 500 | 0.70 | -4.54 |
| Max drawdown (3Y) | -59.2% | -97.6% |
| Market cap | $23.8B | – |
| P/E (trailing) | 21.2 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | DLTR | FNGD |
|---|---|---|
| 2022 | +0.7% | +52.2% |
| 2023 | +0.4% | -90.1% |
| 2024 | -47.2% | -76.6% |
| 2025 | +64.1% | -61.4% |
| 2026 | +3.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLTR and FNGD good diversifiers for each other?
Yes. With a correlation of -0.18, DLTR and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DLTR and FNGD?
As of 2026-08-27, the correlation of weekly returns between DLTR and FNGD is -0.18 over 3 years, -0.09 over 1 year and -0.21 over 5 years.
Is FNGD a good diversifier for DLTR?
Yes. With a correlation of -0.18, DLTR and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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/dltr-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dltr-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLTR correlations · FNGD correlations
