FNGD vs GEN: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Gen Digital (GEN) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GEN?
Over the past 3 years, FNGD and GEN moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.38 over 1 year against -0.34 over 3. Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -805.8 %².
By 3-year correlation, GEN places #1082 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with GEN ahead by 56.9 points (-55.7% versus +1.2%). 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 GEN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GEN (Gen Digital) | |
|---|---|---|
| 1-year return | -55.7% | +1.2% |
| 5-year return | -99.4% | +26.3% |
| Volatility (ann.) | 75.7% | 31.7% |
| Beta vs S&P 500 | -4.54 | 1.02 |
| Max drawdown (3Y) | -97.6% | -43.6% |
| Market cap | – | $18.3B |
| P/E (trailing) | 20.6 | 17.3 |
| Dividend yield | 0.00% | 1.69% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGD | GEN |
|---|---|---|
| 2022 | +52.2% | -15.8% |
| 2023 | -90.1% | +9.3% |
| 2024 | -76.6% | +22.4% |
| 2025 | -61.4% | +1.1% |
| 2026 | -49.5% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GEN good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and GEN?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.38 over the last year and -0.34 over 5 years.
Is GEN a good diversifier for FNGD?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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-gen.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-gen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · GEN correlations
