FIRY vs FNGD: Correlation
Measured on weekly returns over the past three years, Firy Inc. (FIRY) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIRY and FNGD?
On 3 years of weekly data the FIRY/FNGD correlation comes out at -0.26, 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. The 5-year figure is -0.44, and annualized covariance runs at -1883.2 %².
Among the 16 assets we track against FIRY, FNGD sits near the bottom by co-movement, at rank #15. The last year tells two different stories: FIRY led by 71.9 percentage points, +16.2% for FIRY 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.
FIRY vs FNGD: side by side
| FIRY (Firy Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +16.2% | -55.7% |
| 5-year return | -95.2% | -99.4% |
| Volatility (ann.) | 95.3% | 75.7% |
| Beta vs S&P 500 | 2.29 | -4.54 |
| Max drawdown (3Y) | -74.9% | -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 | FIRY | FNGD |
|---|---|---|
| 2022 | -93.2% | +52.2% |
| 2023 | -38.3% | -90.1% |
| 2024 | -19.4% | -76.6% |
| 2025 | -14.3% | -61.4% |
| 2026 | +136.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIRY and FNGD good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FIRY and FNGD?
As of 2026-08-27, the correlation of weekly returns between FIRY and FNGD is -0.26 over 3 years, -0.25 over 1 year and -0.44 over 5 years.
Is FNGD a good diversifier for FIRY?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/firy-vs-fngd.json
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[](https://www.pairbook.io/pair/firy-vs-fngd/)
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Related comparisons
Hubs: FIRY correlations · FNGD correlations
