FNGD vs IQST: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and iQSTEL Inc. (IQST) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and IQST?
On 3 years of weekly data the FNGD/IQST correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. The 5-year figure is -0.22, and annualized covariance runs at -1454.2 %².
Within FNGD's tracked universe of 1743 assets, IQST comes in at #250 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FNGD ahead by 29.4 points (-55.7% versus -85.1%).
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 IQST: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IQST (iQSTEL Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -85.1% |
| 5-year return | -99.4% | -98.1% |
| Volatility (ann.) | 75.7% | 81.9% |
| Beta vs S&P 500 | -4.54 | 1.03 |
| Max drawdown (3Y) | -97.6% | -97.1% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | IQST |
|---|---|---|
| 2022 | +52.2% | -80.1% |
| 2023 | -90.1% | -18.9% |
| 2024 | -76.6% | +100.0% |
| 2025 | -61.4% | -87.7% |
| 2026 | -49.5% | -67.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IQST good diversifiers for each other?
Yes. With a correlation of -0.23, FNGD and IQST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and IQST?
As of 2026-08-27, the correlation of weekly returns between FNGD and IQST is -0.23 over 3 years, -0.25 over 1 year and -0.22 over 5 years.
Is IQST a good diversifier for FNGD?
Yes. With a correlation of -0.23, FNGD and IQST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-iqst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-iqst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · IQST correlations
