DXPE vs FNGD: Correlation
How closely do DXP Enterprises, Inc. (DXPE) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXPE and FNGD?
On 3 years of weekly data the DXPE/FNGD correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.27 over 3 years. The 5-year figure is -0.22, and annualized covariance runs at -1024.7 %².
FNGD is close to the least connected end of DXPE's tracked universe, ranking #10 of 12. Correlation aside, the last 12 months split them widely, with DXPE ahead by 111.0 points (+55.3% versus -55.7%). One caveat on sizing: FNGD is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DXPE vs FNGD: side by side
| DXPE (DXP Enterprises, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +55.3% | -55.7% |
| 5-year return | +542.5% | -99.4% |
| Volatility (ann.) | 49.8% | 75.7% |
| Beta vs S&P 500 | 1.41 | -4.54 |
| Max drawdown (3Y) | -33.0% | -97.6% |
| Market cap | $3.0B | – |
| P/E (trailing) | 33.5 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DXPE | FNGD |
|---|---|---|
| 2022 | +7.3% | +52.2% |
| 2023 | +22.3% | -90.1% |
| 2024 | +145.2% | -76.6% |
| 2025 | +32.9% | -61.4% |
| 2026 | +75.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXPE and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between DXPE and FNGD?
The DXPE/FNGD correlation stands at -0.27 on a 3-year window (1 year: -0.11, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DXPE?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dxpe-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dxpe-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DXPE correlations · FNGD correlations
