F vs FNGD: Correlation
Ford Motor Company (F) 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 F and FNGD?
Across a 3-year window, the weekly returns of F and FNGD correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives -0.38, with an annualized covariance of -727.1 %².
Among the 35 assets we track against F, FNGD sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with F ahead by 78.3 points (+22.6% versus -55.7%). Risk is not evenly split, since FNGD carries 2.1 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.
F vs FNGD: side by side
| F (Ford Motor Company) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +22.6% | -55.7% |
| 5-year return | +45.8% | -99.4% |
| Volatility (ann.) | 36.1% | 75.7% |
| Beta vs S&P 500 | 1.06 | -4.54 |
| Max drawdown (3Y) | -36.5% | -97.6% |
| Market cap | $55.6B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 4.32% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | F | FNGD |
|---|---|---|
| 2022 | -42.2% | +52.2% |
| 2023 | +15.8% | -90.1% |
| 2024 | -13.1% | -76.6% |
| 2025 | +42.3% | -61.4% |
| 2026 | +10.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are F and FNGD good diversifiers for each other?
Yes. With a correlation of -0.27, F and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between F and FNGD?
The F/FNGD correlation stands at -0.27 on a 3-year window (1 year: -0.25, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for F?
Yes. With a correlation of -0.27, F and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/f-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/f-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: F correlations · FNGD correlations
