FICO vs FNGD: Correlation
How closely do Fair Isaac (FICO) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FICO and FNGD?
Across a 3-year window, the weekly returns of FICO and FNGD correlate at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.14 versus -0.32 over 3 years. Stretching to 5 years gives -0.34, with an annualized covariance of -1080.6 %².
Among the 30 assets we track against FICO, FNGD sits near the bottom by co-movement, at rank #29. Correlation aside, the last 12 months split them widely, with FICO ahead by 37.2 points (-18.5% versus -55.7%). Risk is not evenly split, since FNGD carries 1.7 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.
FICO vs FNGD: side by side
| FICO (Fair Isaac) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -18.5% | -55.7% |
| 5-year return | +154.2% | -99.4% |
| Volatility (ann.) | 45.1% | 75.7% |
| Beta vs S&P 500 | 1.27 | -4.54 |
| Max drawdown (3Y) | -61.3% | -97.6% |
| Market cap | $25.0B | – |
| P/E (trailing) | 32.8 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FICO | FNGD |
|---|---|---|
| 2022 | +38.0% | +52.2% |
| 2023 | +94.5% | -90.1% |
| 2024 | +71.0% | -76.6% |
| 2025 | -15.1% | -61.4% |
| 2026 | -31.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FICO and FNGD good diversifiers for each other?
Yes. With a correlation of -0.32, FICO and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FICO and FNGD?
The FICO/FNGD correlation stands at -0.32 on a 3-year window (1 year: -0.14, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for FICO?
Yes. With a correlation of -0.32, FICO and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
A reading of -0.32 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
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Related comparisons
Hubs: FICO correlations · FNGD correlations
