FNGD vs KVYO: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Klaviyo, Inc. Series A (KVYO) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and KVYO?
Across a 3-year window, the weekly returns of FNGD and KVYO correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.29). Stretching to 5 years gives n/a, with an annualized covariance of -1315.6 %².
By 3-year correlation, KVYO places #780 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months KVYO outperformed by 16.8 percentage points (-55.7% for FNGD against -38.9% for KVYO).
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 KVYO: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KVYO (Klaviyo, Inc. Series A) | |
|---|---|---|
| 1-year return | -55.7% | -38.9% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 60.2% |
| Beta vs S&P 500 | -4.54 | 1.09 |
| Max drawdown (3Y) | -97.6% | -73.9% |
| Market cap | – | $5.9B |
| P/E (trailing) | 20.6 | 653.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | KVYO |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | – |
| 2024 | -76.6% | +48.5% |
| 2025 | -61.4% | -21.3% |
| 2026 | -49.5% | -39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KVYO good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and KVYO?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.07 over the last year and n/a over 5 years.
Is KVYO a good diversifier for FNGD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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-kvyo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-kvyo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · KVYO correlations
