FNGD vs FVRR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Fiverr International Ltd. (FVRR) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and FVRR?
On 3 years of weekly data the FNGD/FVRR correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is -0.48, and annualized covariance runs at -1237.3 %².
Within FNGD's tracked universe of 1743 assets, FVRR comes in at #953 by 3-year correlation. Neither side won the trailing year by much: -55.7% against -59.5%. Risk is not evenly split, since FNGD carries 1.5 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.
FNGD vs FVRR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | FVRR (Fiverr International Ltd.) | |
|---|---|---|
| 1-year return | -55.7% | -59.5% |
| 5-year return | -99.4% | -94.9% |
| Volatility (ann.) | 75.7% | 50.3% |
| Beta vs S&P 500 | -4.54 | 1.08 |
| Max drawdown (3Y) | -97.6% | -75.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | 11.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | FVRR |
|---|---|---|
| 2022 | +52.2% | -74.4% |
| 2023 | -90.1% | -6.6% |
| 2024 | -76.6% | +16.6% |
| 2025 | -61.4% | -37.7% |
| 2026 | -49.5% | -52.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and FVRR good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and FVRR?
The FNGD/FVRR correlation stands at -0.32 on a 3-year window (1 year: -0.31, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is FVRR a good diversifier for FNGD?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-fvrr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-fvrr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · FVRR correlations
