EL vs FNGD: Correlation
Estée Lauder Companies (The) (EL) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EL and FNGD?
Across a 3-year window, the weekly returns of EL and FNGD correlate at -0.28, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -1004.1 %².
Among the 35 assets we track against EL, FNGD sits near the bottom by co-movement, at rank #33. The last year tells two different stories: EL led by 72.1 percentage points, +16.4% for EL 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.
EL vs FNGD: side by side
| EL (Estée Lauder Companies (The)) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +16.4% | -55.7% |
| 5-year return | -66.7% | -99.4% |
| Volatility (ann.) | 47.0% | 75.7% |
| Beta vs S&P 500 | 1.28 | -4.54 |
| Max drawdown (3Y) | -68.4% | -97.6% |
| Market cap | $38.4B | – |
| P/E (trailing) | 208.3 | 20.6 |
| Dividend yield | 1.33% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | EL | FNGD |
|---|---|---|
| 2022 | -32.3% | +52.2% |
| 2023 | -40.1% | -90.1% |
| 2024 | -47.6% | -76.6% |
| 2025 | +42.1% | -61.4% |
| 2026 | +2.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EL and FNGD good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EL and FNGD?
As of 2026-08-27, the correlation of weekly returns between EL and FNGD is -0.28 over 3 years, -0.35 over 1 year and -0.36 over 5 years.
Is FNGD a good diversifier for EL?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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/el-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/el-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EL correlations · FNGD correlations
