DSGX vs FNGD: Correlation
The Descartes Systems Group Inc. (DSGX) 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 DSGX and FNGD?
On 3 years of weekly data the DSGX/FNGD correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.26) than the 3-year average (-0.41). The 5-year figure is -0.47, and annualized covariance runs at -979.0 %².
Out of 26 assets tracked against DSGX, FNGD lands near the bottom at #26. Their recent paths diverged sharply: over the last 12 months DSGX outperformed by 36.6 percentage points (-19.1% for DSGX against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 2.4 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.
DSGX vs FNGD: side by side
| DSGX (The Descartes Systems Group Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -19.1% | -55.7% |
| 5-year return | +3.6% | -99.4% |
| Volatility (ann.) | 31.5% | 75.7% |
| Beta vs S&P 500 | 0.86 | -4.54 |
| Max drawdown (3Y) | -48.7% | -97.6% |
| Market cap | $6.9B | – |
| P/E (trailing) | 38.6 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSGX | FNGD |
|---|---|---|
| 2022 | -15.8% | +52.2% |
| 2023 | +20.7% | -90.1% |
| 2024 | +35.1% | -76.6% |
| 2025 | -22.8% | -61.4% |
| 2026 | -8.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSGX and FNGD good diversifiers for each other?
Yes. With a correlation of -0.41, DSGX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DSGX and FNGD?
The DSGX/FNGD correlation stands at -0.41 on a 3-year window (1 year: -0.26, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DSGX?
Yes. With a correlation of -0.41, DSGX and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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.
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Related comparisons
Hubs: DSGX correlations · FNGD correlations
