FNGD vs LULU: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lululemon Athletica (LULU) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LULU?
Across a 3-year window, the weekly returns of FNGD and LULU correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives -0.35, with an annualized covariance of -773.9 %².
Within FNGD's tracked universe of 1743 assets, LULU comes in at #343 by 3-year correlation. On 12-month performance LULU holds a 11.6-point edge, -55.7% against -44.1%. Risk is not evenly split, since FNGD carries 1.8 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 LULU: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LULU (Lululemon Athletica) | |
|---|---|---|
| 1-year return | -55.7% | -44.1% |
| 5-year return | -99.4% | -72.3% |
| Volatility (ann.) | 75.7% | 41.8% |
| Beta vs S&P 500 | -4.54 | 0.98 |
| Max drawdown (3Y) | -97.6% | -79.4% |
| Market cap | – | $13.1B |
| P/E (trailing) | 20.6 | 9.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | LULU |
|---|---|---|
| 2022 | +52.2% | -18.2% |
| 2023 | -90.1% | +59.6% |
| 2024 | -76.6% | -25.2% |
| 2025 | -61.4% | -45.7% |
| 2026 | -49.5% | -44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LULU good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and LULU?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.23 over the last year and -0.35 over 5 years.
Is LULU a good diversifier for FNGD?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-lulu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-lulu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · LULU correlations
