FNGD vs IDE: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Voya Infrastructure, Industrials and Materials Fund (IDE) show a negative relationship: their 3-year correlation of weekly returns is -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and IDE?
Over the past 3 years, FNGD and IDE moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.30) runs above the 3-year figure (-0.44). Over 5 years the correlation is -0.50, and the annualized covariance of weekly returns is -542.0 %².
Among the 1743 assets we track against FNGD, IDE ranks #1479 by 3-year correlation. The last year tells two different stories: IDE led by 72.7 percentage points, -55.7% for FNGD against +17.0% for IDE. Risk is not evenly split, since FNGD carries 4.6 times the volatility of the other side.
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 IDE: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IDE (Voya Infrastructure, Industrials and Materials Fund) | |
|---|---|---|
| 1-year return | -55.7% | +17.0% |
| 5-year return | -99.4% | +66.9% |
| Volatility (ann.) | 75.7% | 16.3% |
| Beta vs S&P 500 | -4.54 | 0.73 |
| Max drawdown (3Y) | -97.6% | -18.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | 3.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | IDE |
|---|---|---|
| 2022 | +52.2% | -16.5% |
| 2023 | -90.1% | +22.0% |
| 2024 | -76.6% | +10.9% |
| 2025 | -61.4% | +34.6% |
| 2026 | -49.5% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IDE good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and IDE?
As of 2026-08-27, the correlation of weekly returns between FNGD and IDE is -0.44 over 3 years, -0.30 over 1 year and -0.50 over 5 years.
Is IDE a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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-ide.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-ide/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · IDE correlations
