FNGD vs HNST: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and The Honest Company, Inc. (HNST) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HNST?
On 3 years of weekly data the FNGD/HNST correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.28). The 5-year figure is -0.30, and annualized covariance runs at -1659.5 %².
Within FNGD's tracked universe of 1743 assets, HNST comes in at #694 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HNST ahead by 100.4 points (-55.7% versus +44.7%).
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 HNST: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HNST (The Honest Company, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +44.7% |
| 5-year return | -99.4% | -42.6% |
| Volatility (ann.) | 75.7% | 79.5% |
| Beta vs S&P 500 | -4.54 | 1.81 |
| Max drawdown (3Y) | -97.6% | -75.5% |
| Market cap | – | $0.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | HNST |
|---|---|---|
| 2022 | +52.2% | -62.8% |
| 2023 | -90.1% | +9.6% |
| 2024 | -76.6% | +110.0% |
| 2025 | -61.4% | -62.8% |
| 2026 | -49.5% | +123.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HNST good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and HNST?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.47 over the last year and -0.30 over 5 years.
Is HNST a good diversifier for FNGD?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-hnst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-hnst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · HNST correlations
