FNGD vs IVDA: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Iveda Solutions, Inc. (IVDA) 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 IVDA?
On 3 years of weekly data the FNGD/IVDA correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.56) than the 3-year average (-0.23). The 5-year figure is -0.11, and annualized covariance runs at -2157.9 %².
Within FNGD's tracked universe of 1743 assets, IVDA comes in at #252 by 3-year correlation. The last year tells two different stories: FNGD led by 26.1 percentage points, -55.7% for FNGD against -81.8% for IVDA. One caveat on sizing: IVDA is 1.7 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 IVDA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IVDA (Iveda Solutions, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -81.8% |
| 5-year return | -99.4% | -99.2% |
| Volatility (ann.) | 75.7% | 125.9% |
| Beta vs S&P 500 | -4.54 | 1.47 |
| Max drawdown (3Y) | -97.6% | -97.4% |
| 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 | IVDA |
|---|---|---|
| 2022 | +52.2% | -96.8% |
| 2023 | -90.1% | +12.5% |
| 2024 | -76.6% | -2.0% |
| 2025 | -61.4% | -83.0% |
| 2026 | -49.5% | -64.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IVDA good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and IVDA?
As of 2026-08-27, the correlation of weekly returns between FNGD and IVDA is -0.23 over 3 years, -0.56 over 1 year and -0.11 over 5 years.
Is IVDA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 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-ivda.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ivda/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · IVDA correlations
