FNGD vs LPTH: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and LightPath Technologies, Inc. (LPTH) 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 LPTH?
Across a 3-year window, the weekly returns of FNGD and LPTH correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Stretching to 5 years gives -0.24, with an annualized covariance of -1531.3 %².
By 3-year correlation, LPTH places #430 of the 1743 assets tracked against FNGD. The last year tells two different stories: LPTH led by 243.0 percentage points, -55.7% for FNGD against +187.3% for LPTH.
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 LPTH: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LPTH (LightPath Technologies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +187.3% |
| 5-year return | -99.4% | +499.6% |
| Volatility (ann.) | 75.7% | 79.6% |
| Beta vs S&P 500 | -4.54 | 1.33 |
| Max drawdown (3Y) | -97.6% | -61.1% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LPTH |
|---|---|---|
| 2022 | +52.2% | -50.0% |
| 2023 | -90.1% | +3.3% |
| 2024 | -76.6% | +180.2% |
| 2025 | -61.4% | +205.9% |
| 2026 | -49.5% | +27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LPTH good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and LPTH?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.33 over the last year and -0.24 over 5 years.
Is LPTH a good diversifier for FNGD?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
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
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Related comparisons
Hubs: FNGD correlations · LPTH correlations
