FNGD vs GFAI: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Guardforce AI Co., Limited (GFAI) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GFAI?
Over the past 3 years, FNGD and GFAI moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.32). Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -2074.3 %².
Within FNGD's tracked universe of 1743 assets, GFAI comes in at #954 by 3-year correlation. Over the last 12 months FNGD came out ahead by 13.0 percentage points (-55.7% against -68.7%).
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 GFAI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GFAI (Guardforce AI Co., Limited) | |
|---|---|---|
| 1-year return | -55.7% | -68.7% |
| 5-year return | -99.4% | -99.8% |
| Volatility (ann.) | 75.7% | 84.4% |
| Beta vs S&P 500 | -4.54 | 2.19 |
| Max drawdown (3Y) | -97.6% | -93.9% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GFAI |
|---|---|---|
| 2022 | +52.2% | -88.2% |
| 2023 | -90.1% | -34.6% |
| 2024 | -76.6% | -56.9% |
| 2025 | -61.4% | -61.0% |
| 2026 | -49.5% | -33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GFAI good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and GFAI?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.50 over the last year and -0.24 over 5 years.
Is GFAI a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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-gfai.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-gfai/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · GFAI correlations
