FNGD vs LCID: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lucid Group, Inc. (LCID) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LCID?
On 3 years of weekly data the FNGD/LCID correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. The 5-year figure is -0.30, and annualized covariance runs at -1234.6 %².
By 3-year correlation, LCID places #124 of the 1743 assets tracked against FNGD. The last year tells two different stories: FNGD led by 19.8 percentage points, -55.7% for FNGD against -75.5% for LCID.
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 LCID: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LCID (Lucid Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -75.5% |
| 5-year return | -99.4% | -97.5% |
| Volatility (ann.) | 75.7% | 78.4% |
| Beta vs S&P 500 | -4.54 | 1.25 |
| Max drawdown (3Y) | -97.6% | -92.7% |
| Market cap | – | $2.0B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LCID |
|---|---|---|
| 2022 | +52.2% | -82.0% |
| 2023 | -90.1% | -38.4% |
| 2024 | -76.6% | -28.3% |
| 2025 | -61.4% | -65.0% |
| 2026 | -49.5% | -51.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LCID good diversifiers for each other?
Yes. With a correlation of -0.21, FNGD and LCID have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and LCID?
As of 2026-08-27, the correlation of weekly returns between FNGD and LCID is -0.21 over 3 years, -0.12 over 1 year and -0.30 over 5 years.
Is LCID a good diversifier for FNGD?
Yes. With a correlation of -0.21, FNGD and LCID have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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-lcid.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-lcid/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · LCID correlations
