DSP vs FNGD: Correlation
How closely do Viant Technology Inc. (DSP) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSP and FNGD?
On 3 years of weekly data the DSP/FNGD correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.39) sits close to the 3-year figure. The 5-year figure is -0.34, and annualized covariance runs at -1579.8 %².
FNGD is close to the least connected end of DSP's tracked universe, ranking #13 of 13. Their recent paths diverged sharply: over the last 12 months DSP outperformed by 82.2 percentage points (+26.5% for DSP 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.
DSP vs FNGD: side by side
| DSP (Viant Technology Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +26.5% | -55.7% |
| 5-year return | -9.6% | -99.4% |
| Volatility (ann.) | 60.9% | 75.7% |
| Beta vs S&P 500 | 1.57 | -4.54 |
| Max drawdown (3Y) | -68.6% | -97.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | 34.3 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSP | FNGD |
|---|---|---|
| 2022 | -58.6% | +52.2% |
| 2023 | +71.4% | -90.1% |
| 2024 | +175.6% | -76.6% |
| 2025 | -36.6% | -61.4% |
| 2026 | +5.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSP and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between DSP and FNGD?
The DSP/FNGD correlation stands at -0.34 on a 3-year window (1 year: -0.39, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DSP?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
A reading of -0.34 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/dsp-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dsp-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSP correlations · FNGD correlations
