FNGD vs GM: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and General Motors (GM) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GM?
Across a 3-year window, the weekly returns of FNGD and GM correlate at -0.28, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. Stretching to 5 years gives -0.42, with an annualized covariance of -691.4 %².
Within FNGD's tracked universe of 1743 assets, GM comes in at #691 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GM outperformed by 103.7 percentage points (-55.7% for FNGD against +48.0% for GM). Risk is not evenly split, since FNGD carries 2.4 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 GM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GM (General Motors) | |
|---|---|---|
| 1-year return | -55.7% | +48.0% |
| 5-year return | -99.4% | +82.5% |
| Volatility (ann.) | 75.7% | 32.2% |
| Beta vs S&P 500 | -4.54 | 0.98 |
| Max drawdown (3Y) | -97.6% | -29.1% |
| Market cap | – | $77.9B |
| P/E (trailing) | 20.6 | 38.6 |
| Dividend yield | 0.00% | 0.76% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | GM |
|---|---|---|
| 2022 | +52.2% | -42.4% |
| 2023 | -90.1% | +7.9% |
| 2024 | -76.6% | +49.8% |
| 2025 | -61.4% | +54.2% |
| 2026 | -49.5% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GM good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and GM?
As of 2026-08-27, the correlation of weekly returns between FNGD and GM is -0.28 over 3 years, -0.22 over 1 year and -0.42 over 5 years.
Is GM a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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-gm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-gm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · GM correlations
