FNGD vs IOT: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Samsara Inc. (IOT) trade together? Their weekly returns over three years give a correlation of -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and IOT?
Across a 3-year window, the weekly returns of FNGD and IOT correlate at -0.45, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.45 over 3. Stretching to 5 years gives -0.49, with an annualized covariance of -2017.0 %².
By 3-year correlation, IOT places #1502 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with IOT ahead by 73.1 points (-55.7% versus +17.4%).
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 IOT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IOT (Samsara Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +17.4% |
| 5-year return | -99.4% | +69.5% |
| Volatility (ann.) | 75.7% | 59.7% |
| Beta vs S&P 500 | -4.54 | 1.74 |
| Max drawdown (3Y) | -97.6% | -60.2% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 418.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | IOT |
|---|---|---|
| 2022 | +52.2% | -55.8% |
| 2023 | -90.1% | +168.5% |
| 2024 | -76.6% | +30.9% |
| 2025 | -61.4% | -18.9% |
| 2026 | -49.5% | +18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IOT good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and IOT?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with -0.39 over the last year and -0.49 over 5 years.
Is IOT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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-iot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-iot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · IOT correlations
