FNGD vs GCT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and GigaCloud Technology Inc - Class A (GCT) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GCT?
Across a 3-year window, the weekly returns of FNGD and GCT correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.27, with an annualized covariance of -1372.6 %².
By 3-year correlation, GCT places #116 of the 1743 assets tracked against FNGD. The last year tells two different stories: GCT led by 150.9 percentage points, -55.7% for FNGD against +95.2% for GCT.
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 GCT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GCT (GigaCloud Technology Inc - Class A) | |
|---|---|---|
| 1-year return | -55.7% | +95.2% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 85.6% |
| Beta vs S&P 500 | -4.54 | 1.87 |
| Max drawdown (3Y) | -97.6% | -73.2% |
| Market cap | – | $1.8B |
| P/E (trailing) | 20.6 | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GCT |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | +221.5% |
| 2024 | -76.6% | +1.2% |
| 2025 | -61.4% | +112.1% |
| 2026 | -49.5% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GCT good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and GCT?
The FNGD/GCT correlation stands at -0.21 on a 3-year window (1 year: -0.27, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is GCT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-gct.json
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[](https://www.pairbook.io/pair/fngd-vs-gct/)
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Related comparisons
Hubs: FNGD correlations · GCT correlations
