EFX vs FNGD: Correlation
How closely do Equifax (EFX) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFX and FNGD?
On 3 years of weekly data the EFX/FNGD correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.42 over 3 years. The 5-year figure is -0.50, and annualized covariance runs at -1056.2 %².
Among the 53 assets we track against EFX, FNGD sits near the bottom by co-movement, at rank #52. Their recent paths diverged sharply: over the last 12 months EFX outperformed by 33.9 percentage points (-21.8% for EFX against -55.7% for FNGD). One caveat on sizing: FNGD is 2.3 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.
EFX vs FNGD: side by side
| EFX (Equifax) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -21.8% | -55.7% |
| 5-year return | -26.0% | -99.4% |
| Volatility (ann.) | 33.3% | 75.7% |
| Beta vs S&P 500 | 1.25 | -4.54 |
| Max drawdown (3Y) | -49.7% | -97.6% |
| Market cap | $22.4B | – |
| P/E (trailing) | 33.5 | 20.6 |
| Dividend yield | 1.11% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EFX | FNGD |
|---|---|---|
| 2022 | -33.1% | +52.2% |
| 2023 | +28.2% | -90.1% |
| 2024 | +3.7% | -76.6% |
| 2025 | -14.2% | -61.4% |
| 2026 | -11.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFX and FNGD good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EFX and FNGD?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.16 over the last year and -0.50 over 5 years.
Is FNGD a good diversifier for EFX?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
A reading of -0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EFX correlations · FNGD correlations
