FNGD vs LPX: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Louisiana-Pacific Corporation (LPX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LPX?
Over the past 3 years, FNGD and LPX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.27). Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -774.2 %².
Within FNGD's tracked universe of 1743 assets, LPX comes in at #612 by 3-year correlation. The last year tells two different stories: LPX led by 30.4 percentage points, -55.7% for FNGD against -25.3% for LPX. Risk is not evenly split, since FNGD carries 2.0 times the volatility of the other side.
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 LPX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LPX (Louisiana-Pacific Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -25.3% |
| 5-year return | -99.4% | +15.9% |
| Volatility (ann.) | 75.7% | 37.4% |
| Beta vs S&P 500 | -4.54 | 1.15 |
| Max drawdown (3Y) | -97.6% | -43.1% |
| Market cap | – | $4.9B |
| P/E (trailing) | 20.6 | 93.1 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LPX |
|---|---|---|
| 2022 | +52.2% | -23.4% |
| 2023 | -90.1% | +21.5% |
| 2024 | -76.6% | +47.9% |
| 2025 | -61.4% | -21.0% |
| 2026 | -49.5% | -11.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LPX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LPX?
The FNGD/LPX correlation stands at -0.27 on a 3-year window (1 year: -0.14, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is LPX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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-lpx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-lpx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · LPX correlations
