EBAY vs FNGD: Correlation
eBay Inc. (EBAY) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBAY and FNGD?
Over the past 3 years, EBAY and FNGD moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -372.8 %².
Within EBAY's tracked universe of 33 assets, FNGD comes in at #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EBAY ahead by 66.3 points (+10.6% versus -55.7%). One caveat on sizing: FNGD is 2.6 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.
EBAY vs FNGD: side by side
| EBAY (eBay Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +10.6% | -55.7% |
| 5-year return | +43.9% | -99.4% |
| Volatility (ann.) | 28.9% | 75.7% |
| Beta vs S&P 500 | 0.58 | -4.54 |
| Max drawdown (3Y) | -20.7% | -97.6% |
| Market cap | $45.5B | – |
| P/E (trailing) | 21.9 | 20.6 |
| Dividend yield | 1.15% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | EBAY | FNGD |
|---|---|---|
| 2022 | -36.5% | +52.2% |
| 2023 | +7.7% | -90.1% |
| 2024 | +44.8% | -76.6% |
| 2025 | +42.7% | -61.4% |
| 2026 | +18.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBAY and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between EBAY and FNGD?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.23 over the last year and -0.41 over 5 years.
Is FNGD a good diversifier for EBAY?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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/ebay-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ebay-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EBAY correlations · FNGD correlations
