FNGD vs LAR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lithium Argentina AG (LAR) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LAR?
On 3 years of weekly data the FNGD/LAR correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. The 5-year figure is -0.40, and annualized covariance runs at -1284.4 %².
Among the 1743 assets we track against FNGD, LAR ranks #427 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LAR ahead by 169.6 points (-55.7% versus +113.9%).
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 LAR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LAR (Lithium Argentina AG) | |
|---|---|---|
| 1-year return | -55.7% | +113.9% |
| 5-year return | -99.4% | -12.4% |
| Volatility (ann.) | 75.7% | 67.6% |
| Beta vs S&P 500 | -4.54 | 1.61 |
| Max drawdown (3Y) | -97.6% | -79.6% |
| Market cap | – | $1.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LAR |
|---|---|---|
| 2022 | +52.2% | -34.9% |
| 2023 | -90.1% | -17.2% |
| 2024 | -76.6% | -58.5% |
| 2025 | -61.4% | +113.0% |
| 2026 | -49.5% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LAR good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LAR?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.34 over the last year and -0.40 over 5 years.
Is LAR a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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-lar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-lar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · LAR correlations
