FNGD vs IZEA: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and IZEA Worldwide, Inc. (IZEA) 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 IZEA?
Across a 3-year window, the weekly returns of FNGD and IZEA correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -864.3 %².
Among the 1743 assets we track against FNGD, IZEA ranks #253 by 3-year correlation. The last year tells two different stories: IZEA led by 30.1 percentage points, -55.7% for FNGD against -25.6% for IZEA. One caveat on sizing: FNGD is 1.5 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 IZEA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | IZEA (IZEA Worldwide, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -25.6% |
| 5-year return | -99.4% | -66.3% |
| Volatility (ann.) | 75.7% | 49.7% |
| Beta vs S&P 500 | -4.54 | 0.93 |
| Max drawdown (3Y) | -97.6% | -50.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | IZEA |
|---|---|---|
| 2022 | +52.2% | -59.5% |
| 2023 | -90.1% | -7.5% |
| 2024 | -76.6% | +36.8% |
| 2025 | -61.4% | +59.3% |
| 2026 | -49.5% | -29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and IZEA 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 IZEA?
As of 2026-08-27, the correlation of weekly returns between FNGD and IZEA is -0.23 over 3 years, -0.20 over 1 year and -0.39 over 5 years.
Is IZEA 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?
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-izea.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-izea/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · IZEA correlations
