FNGD vs LRCX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lam Research (LRCX) show a negative relationship: their 3-year correlation of weekly returns is -0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LRCX?
On 3 years of weekly data the FNGD/LRCX correlation comes out at -0.55, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.34 versus -0.55 over 3 years. The 5-year figure is -0.62, and annualized covariance runs at -1958.0 %².
Among the 1743 assets we track against FNGD, LRCX ranks #1644 by 3-year correlation. The last year tells two different stories: LRCX led by 264.7 percentage points, -55.7% for FNGD against +209.0% for LRCX. One caveat on sizing: FNGD is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 LRCX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LRCX (Lam Research) | |
|---|---|---|
| 1-year return | -55.7% | +209.0% |
| 5-year return | -99.4% | +452.0% |
| Volatility (ann.) | 75.7% | 46.7% |
| Beta vs S&P 500 | -4.54 | 2.03 |
| Max drawdown (3Y) | -97.6% | -47.1% |
| Market cap | – | $398.6B |
| P/E (trailing) | 20.6 | 54.4 |
| Dividend yield | 0.00% | 0.33% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGD | LRCX |
|---|---|---|
| 2022 | +52.2% | -40.7% |
| 2023 | -90.1% | +88.6% |
| 2024 | -76.6% | -6.8% |
| 2025 | -61.4% | +139.2% |
| 2026 | -49.5% | +86.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LRCX good diversifiers for each other?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LRCX?
As of 2026-08-27, the correlation of weekly returns between FNGD and LRCX is -0.55 over 3 years, -0.34 over 1 year and -0.62 over 5 years.
Is LRCX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
What does a correlation of -0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: FNGD correlations · LRCX correlations
