EXFY vs FNGD: Correlation
Expensify, Inc. (EXFY) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXFY and FNGD?
Across a 3-year window, the weekly returns of EXFY and FNGD correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.27). Stretching to 5 years gives -0.32, with an annualized covariance of -1742.5 %².
Out of 12 assets tracked against EXFY, FNGD lands near the bottom at #10. The last year tells two different stories: EXFY led by 89.0 percentage points, +33.3% for EXFY against -55.7% for FNGD.
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.
EXFY vs FNGD: side by side
| EXFY (Expensify, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +33.3% | -55.7% |
| 5-year return | -93.8% | -99.4% |
| Volatility (ann.) | 83.7% | 75.7% |
| Beta vs S&P 500 | 2.04 | -4.54 |
| Max drawdown (3Y) | -83.4% | -97.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXFY | FNGD |
|---|---|---|
| 2022 | -79.9% | +52.2% |
| 2023 | -72.0% | -90.1% |
| 2024 | +35.6% | -76.6% |
| 2025 | -54.9% | -61.4% |
| 2026 | +69.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXFY and FNGD good diversifiers for each other?
Yes. With a correlation of -0.27, EXFY and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXFY and FNGD?
As of 2026-08-27, the correlation of weekly returns between EXFY and FNGD is -0.27 over 3 years, -0.40 over 1 year and -0.32 over 5 years.
Is FNGD a good diversifier for EXFY?
Yes. With a correlation of -0.27, EXFY and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/exfy-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exfy-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXFY correlations · FNGD correlations
