FNGD vs GE: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and GE Aerospace (GE) show a negative relationship: their 3-year correlation of weekly returns is -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GE?
Over the past 3 years, FNGD and GE moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.26) than the 3-year average (-0.48). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -1122.9 %².
By 3-year correlation, GE places #1552 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with GE ahead by 81.7 points (-55.7% versus +26.0%). One caveat on sizing: FNGD is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 GE: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GE (GE Aerospace) | |
|---|---|---|
| 1-year return | -55.7% | +26.0% |
| 5-year return | -99.4% | +435.6% |
| Volatility (ann.) | 75.7% | 30.9% |
| Beta vs S&P 500 | -4.54 | 1.24 |
| Max drawdown (3Y) | -97.6% | -21.4% |
| Market cap | – | $355.6B |
| P/E (trailing) | 20.6 | 41.8 |
| Dividend yield | 0.00% | 0.47% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | GE |
|---|---|---|
| 2022 | +52.2% | -10.9% |
| 2023 | -90.1% | +95.7% |
| 2024 | -76.6% | +64.8% |
| 2025 | -61.4% | +85.7% |
| 2026 | -49.5% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GE good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and GE?
As of 2026-08-27, the correlation of weekly returns between FNGD and GE is -0.48 over 3 years, -0.26 over 1 year and -0.45 over 5 years.
Is GE a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
A reading of -0.48 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/fngd-vs-ge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ge/)
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Related comparisons
Hubs: FNGD correlations · GE correlations
