EXPD vs FNGD: Correlation
Expeditors International (EXPD) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPD and FNGD?
Across a 3-year window, the weekly returns of EXPD and FNGD correlate at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.13 over 1 year against -0.20 over 3. Stretching to 5 years gives -0.36, with an annualized covariance of -371.9 %².
Within EXPD's tracked universe of 33 assets, FNGD comes in at #24 by 3-year correlation. The last year tells two different stories: EXPD led by 113.2 percentage points, +57.5% for EXPD against -55.7% for FNGD. Note the risk asymmetry: FNGD runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EXPD vs FNGD: side by side
| EXPD (Expeditors International) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +57.5% | -55.7% |
| 5-year return | +60.9% | -99.4% |
| Volatility (ann.) | 24.2% | 75.7% |
| Beta vs S&P 500 | 0.65 | -4.54 |
| Max drawdown (3Y) | -21.3% | -97.6% |
| Market cap | $24.8B | – |
| P/E (trailing) | 27.7 | 20.6 |
| Dividend yield | 0.83% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EXPD | FNGD |
|---|---|---|
| 2022 | -21.7% | +52.2% |
| 2023 | +23.9% | -90.1% |
| 2024 | -11.9% | -76.6% |
| 2025 | +36.2% | -61.4% |
| 2026 | +28.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPD and FNGD good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EXPD and FNGD?
The EXPD/FNGD correlation stands at -0.20 on a 3-year window (1 year: -0.13, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for EXPD?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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/expd-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/expd-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXPD correlations · FNGD correlations
