FNGD vs HAPN: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Happen, Inc. (HAPN) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HAPN?
On 3 years of weekly data the FNGD/HAPN correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.36 over 3. The 5-year figure is -0.48, and annualized covariance runs at -1397.4 %².
Within FNGD's tracked universe of 1743 assets, HAPN comes in at #1184 by 3-year correlation. The last year tells two different stories: HAPN led by 65.4 percentage points, -55.7% for FNGD against +9.7% for HAPN.
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 HAPN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HAPN (Happen, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +9.7% |
| 5-year return | -99.4% | -35.2% |
| Volatility (ann.) | 75.7% | 51.5% |
| Beta vs S&P 500 | -4.54 | 1.56 |
| Max drawdown (3Y) | -97.6% | -52.2% |
| Market cap | – | $2.1B |
| P/E (trailing) | 20.6 | 11.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | HAPN |
|---|---|---|
| 2022 | +52.2% | -63.6% |
| 2023 | -90.1% | -0.7% |
| 2024 | -76.6% | +85.2% |
| 2025 | -61.4% | +17.0% |
| 2026 | -49.5% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HAPN good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and HAPN?
As of 2026-08-27, the correlation of weekly returns between FNGD and HAPN is -0.36 over 3 years, -0.39 over 1 year and -0.48 over 5 years.
Is HAPN a good diversifier for FNGD?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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-hapn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-hapn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · HAPN correlations
