EXPE vs FNGD: Correlation
How closely do Expedia Group (EXPE) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPE and FNGD?
Over the past 3 years, EXPE and FNGD moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.36 over 3. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -1172.7 %².
Among the 33 assets we track against EXPE, FNGD sits near the bottom by co-movement, at rank #31. Correlation aside, the last 12 months split them widely, with EXPE ahead by 107.2 points (+51.5% versus -55.7%). One caveat on sizing: FNGD is 1.8 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.
EXPE vs FNGD: side by side
| EXPE (Expedia Group) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +51.5% | -55.7% |
| 5-year return | +123.9% | -99.4% |
| Volatility (ann.) | 42.7% | 75.7% |
| Beta vs S&P 500 | 1.33 | -4.54 |
| Max drawdown (3Y) | -37.4% | -97.6% |
| Market cap | $38.3B | – |
| P/E (trailing) | 21.0 | 20.6 |
| Dividend yield | 0.53% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | EXPE | FNGD |
|---|---|---|
| 2022 | -51.5% | +52.2% |
| 2023 | +73.3% | -90.1% |
| 2024 | +22.8% | -76.6% |
| 2025 | +53.3% | -61.4% |
| 2026 | +13.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPE and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between EXPE and FNGD?
The EXPE/FNGD correlation stands at -0.36 on a 3-year window (1 year: -0.27, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for EXPE?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 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/expe-vs-fngd.json
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[](https://www.pairbook.io/pair/expe-vs-fngd/)
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Related comparisons
Hubs: EXPE correlations · FNGD correlations
