FNGD vs HIMS: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Hims & Hers Health, Inc. (HIMS) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HIMS?
Across a 3-year window, the weekly returns of FNGD and HIMS correlate at -0.38, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Stretching to 5 years gives -0.40, with an annualized covariance of -2772.9 %².
By 3-year correlation, HIMS places #1269 of the 1743 assets tracked against FNGD. The last year tells two different stories: HIMS led by 27.6 percentage points, -55.7% for FNGD against -28.1% for HIMS.
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 HIMS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HIMS (Hims & Hers Health, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -28.1% |
| 5-year return | -99.4% | +295.7% |
| Volatility (ann.) | 75.7% | 97.5% |
| Beta vs S&P 500 | -4.54 | 2.54 |
| Max drawdown (3Y) | -97.6% | -78.9% |
| Market cap | – | $7.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | HIMS |
|---|---|---|
| 2022 | +52.2% | -2.1% |
| 2023 | -90.1% | +38.8% |
| 2024 | -76.6% | +171.7% |
| 2025 | -61.4% | +34.3% |
| 2026 | -49.5% | -2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HIMS good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and HIMS?
The FNGD/HIMS correlation stands at -0.38 on a 3-year window (1 year: -0.41, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is HIMS a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 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-hims.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-hims/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · HIMS correlations
