FNGD vs HVT: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Haverty Furniture Companies, Inc. (HVT) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HVT?
On 3 years of weekly data the FNGD/HVT correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.22 over 3. The 5-year figure is -0.27, and annualized covariance runs at -591.0 %².
By 3-year correlation, HVT places #171 of the 1743 assets tracked against FNGD. The last year tells two different stories: HVT led by 82.2 percentage points, -55.7% for FNGD against +26.5% for HVT. Note the risk asymmetry: FNGD runs 2.2 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 HVT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HVT (Haverty Furniture Companies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +26.5% |
| 5-year return | -99.4% | +8.2% |
| Volatility (ann.) | 75.7% | 34.8% |
| Beta vs S&P 500 | -4.54 | 1.02 |
| Max drawdown (3Y) | -97.6% | -50.1% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 19.7 |
| Dividend yield | 0.00% | 4.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | HVT |
|---|---|---|
| 2022 | +52.2% | +4.8% |
| 2023 | -90.1% | +27.2% |
| 2024 | -76.6% | -34.4% |
| 2025 | -61.4% | +11.2% |
| 2026 | -49.5% | +22.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HVT good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and HVT?
The FNGD/HVT correlation stands at -0.22 on a 3-year window (1 year: -0.25, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is HVT a good diversifier for FNGD?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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-hvt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-hvt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · HVT correlations
