FNGD vs HAS: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Hasbro (HAS) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HAS?
On 3 years of weekly data the FNGD/HAS correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.20). The 5-year figure is -0.29, and annualized covariance runs at -469.2 %².
By 3-year correlation, HAS places #85 of the 1743 assets tracked against FNGD. The last year tells two different stories: HAS led by 74.9 percentage points, -55.7% for FNGD against +19.2% for HAS. 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 HAS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HAS (Hasbro) | |
|---|---|---|
| 1-year return | -55.7% | +19.2% |
| 5-year return | -99.4% | +17.1% |
| Volatility (ann.) | 75.7% | 31.7% |
| Beta vs S&P 500 | -4.54 | 0.86 |
| Max drawdown (3Y) | -97.6% | -40.3% |
| Market cap | – | $13.3B |
| P/E (trailing) | 20.6 | 17.1 |
| Dividend yield | 0.00% | 2.91% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | HAS |
|---|---|---|
| 2022 | +52.2% | -37.9% |
| 2023 | -90.1% | -11.9% |
| 2024 | -76.6% | +14.8% |
| 2025 | -61.4% | +52.5% |
| 2026 | -49.5% | +17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HAS good diversifiers for each other?
Yes. With a correlation of -0.20, FNGD and HAS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and HAS?
As of 2026-08-27, the correlation of weekly returns between FNGD and HAS is -0.20 over 3 years, 0.01 over 1 year and -0.29 over 5 years.
Is HAS a good diversifier for FNGD?
Yes. With a correlation of -0.20, FNGD and HAS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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-has.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-has/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · HAS correlations
