FNGD vs IFN: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Aberdeen India Fund, Inc. (IFN) show a negative relationship: their 3-year correlation of weekly returns is -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and IFN?
Over the past 3 years, FNGD and IFN moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -649.7 %².
Among the 1743 assets we track against FNGD, IFN ranks #1417 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IFN outperformed by 41.7 percentage points (-55.7% for FNGD against -14.0% for IFN). One caveat on sizing: FNGD is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 IFN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IFN (Aberdeen India Fund, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -14.0% |
| 5-year return | -99.4% | +1.4% |
| Volatility (ann.) | 75.7% | 20.3% |
| Beta vs S&P 500 | -4.54 | 0.74 |
| Max drawdown (3Y) | -97.6% | -33.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 19.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | IFN |
|---|---|---|
| 2022 | +52.2% | -15.8% |
| 2023 | -90.1% | +36.5% |
| 2024 | -76.6% | -2.3% |
| 2025 | -61.4% | -3.0% |
| 2026 | -49.5% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IFN good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and IFN?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.43 over the last year and -0.47 over 5 years.
Is IFN a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · IFN correlations
