FIVE vs FNGD: Correlation
How closely do Five Below, Inc. (FIVE) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIVE and FNGD?
On 3 years of weekly data the FIVE/FNGD correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.35 over 3. The 5-year figure is -0.42, and annualized covariance runs at -1360.0 %².
Among the 13 assets we track against FIVE, FNGD sits near the bottom by co-movement, at rank #12. The last year tells two different stories: FIVE led by 126.7 percentage points, +71.0% for FIVE 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.
FIVE vs FNGD: side by side
| FIVE (Five Below, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +71.0% | -55.7% |
| 5-year return | +15.1% | -99.4% |
| Volatility (ann.) | 50.8% | 75.7% |
| Beta vs S&P 500 | 1.42 | -4.54 |
| Max drawdown (3Y) | -74.1% | -97.6% |
| Market cap | $13.7B | – |
| P/E (trailing) | 31.2 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIVE | FNGD |
|---|---|---|
| 2022 | -14.5% | +52.2% |
| 2023 | +20.5% | -90.1% |
| 2024 | -50.8% | -76.6% |
| 2025 | +79.5% | -61.4% |
| 2026 | +31.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIVE and FNGD good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FIVE and FNGD?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.30 over the last year and -0.42 over 5 years.
Is FNGD a good diversifier for FIVE?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FIVE correlations · FNGD correlations
