DXCM vs FNGD: Correlation
Measured on weekly returns over the past three years, Dexcom (DXCM) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and FNGD?
Over the past 3 years, DXCM and FNGD moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.25). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -889.1 %².
Out of 28 assets tracked against DXCM, FNGD lands near the bottom at #24. Their recent paths diverged sharply: over the last 12 months DXCM outperformed by 72.6 percentage points (+16.9% for DXCM against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 1.6 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.
DXCM vs FNGD: side by side
| DXCM (Dexcom) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +16.9% | -55.7% |
| 5-year return | -31.5% | -99.4% |
| Volatility (ann.) | 46.7% | 75.7% |
| Beta vs S&P 500 | 1.02 | -4.54 |
| Max drawdown (3Y) | -61.0% | -97.6% |
| Market cap | $33.7B | – |
| P/E (trailing) | 35.2 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DXCM | FNGD |
|---|---|---|
| 2022 | -15.6% | +52.2% |
| 2023 | +9.6% | -90.1% |
| 2024 | -37.3% | -76.6% |
| 2025 | -14.7% | -61.4% |
| 2026 | +34.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXCM and FNGD good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DXCM and FNGD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.12 over the last year and -0.32 over 5 years.
Is FNGD a good diversifier for DXCM?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/dxcm-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dxcm-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DXCM correlations · FNGD correlations
