FNGD vs HLT: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Hilton Worldwide (HLT) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HLT?
On 3 years of weekly data the FNGD/HLT correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.41). The 5-year figure is -0.45, and annualized covariance runs at -641.1 %².
Within FNGD's tracked universe of 1743 assets, HLT comes in at #1384 by 3-year correlation. The last year tells two different stories: HLT led by 73.8 percentage points, -55.7% for FNGD against +18.1% for HLT. Note the risk asymmetry: FNGD runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 HLT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HLT (Hilton Worldwide) | |
|---|---|---|
| 1-year return | -55.7% | +18.1% |
| 5-year return | -99.4% | +162.7% |
| Volatility (ann.) | 75.7% | 20.7% |
| Beta vs S&P 500 | -4.54 | 0.85 |
| Max drawdown (3Y) | -97.6% | -26.4% |
| Market cap | – | $73.3B |
| P/E (trailing) | 20.6 | 47.8 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | HLT |
|---|---|---|
| 2022 | +52.2% | -18.7% |
| 2023 | -90.1% | +44.7% |
| 2024 | -76.6% | +36.1% |
| 2025 | -61.4% | +16.5% |
| 2026 | -49.5% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HLT good diversifiers for each other?
Yes. With a correlation of -0.41, FNGD and HLT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and HLT?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.04 over the last year and -0.45 over 5 years.
Is HLT a good diversifier for FNGD?
Yes. With a correlation of -0.41, FNGD and HLT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 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-hlt.json
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Related comparisons
Hubs: FNGD correlations · HLT correlations
