FNGD vs FOUR: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Shift4 Payments, Inc. (FOUR) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and FOUR?
Across a 3-year window, the weekly returns of FNGD and FOUR correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.00) than the 3-year average (-0.31). Stretching to 5 years gives -0.40, with an annualized covariance of -1232.1 %².
By 3-year correlation, FOUR places #890 of the 1743 assets tracked against FNGD. Twelve-month performance is nearly a tie, at -55.7% for FNGD and -51.3% for FOUR.
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.
FNGD vs FOUR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | FOUR (Shift4 Payments, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -51.3% |
| 5-year return | -99.4% | -48.7% |
| Volatility (ann.) | 75.7% | 52.8% |
| Beta vs S&P 500 | -4.54 | 1.43 |
| Max drawdown (3Y) | -97.6% | -71.6% |
| Market cap | – | $3.5B |
| P/E (trailing) | 20.6 | 68.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | FOUR |
|---|---|---|
| 2022 | +52.2% | -3.5% |
| 2023 | -90.1% | +32.9% |
| 2024 | -76.6% | +39.6% |
| 2025 | -61.4% | -39.3% |
| 2026 | -49.5% | -30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and FOUR good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and FOUR?
As of 2026-08-27, the correlation of weekly returns between FNGD and FOUR is -0.31 over 3 years, 0.00 over 1 year and -0.40 over 5 years.
Is FOUR a good diversifier for FNGD?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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/fngd-vs-four.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-four/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · FOUR correlations
