FNGD vs LVS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Las Vegas Sands (LVS) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LVS?
Over the past 3 years, FNGD and LVS moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.18 over 3 years. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -486.8 %².
Among the 1743 assets we track against FNGD, LVS ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LVS outperformed by 35.4 percentage points (-55.7% for FNGD against -20.3% for LVS). One caveat on sizing: FNGD is 2.2 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 LVS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LVS (Las Vegas Sands) | |
|---|---|---|
| 1-year return | -55.7% | -20.3% |
| 5-year return | -99.4% | +8.5% |
| Volatility (ann.) | 75.7% | 34.8% |
| Beta vs S&P 500 | -4.54 | 0.75 |
| Max drawdown (3Y) | -97.6% | -44.0% |
| Market cap | – | $28.7B |
| P/E (trailing) | 20.6 | 17.1 |
| Dividend yield | 0.00% | 2.49% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | LVS |
|---|---|---|
| 2022 | +52.2% | +27.7% |
| 2023 | -90.1% | +3.1% |
| 2024 | -76.6% | +6.2% |
| 2025 | -61.4% | +29.5% |
| 2026 | -49.5% | -30.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LVS good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LVS?
As of 2026-08-27, the correlation of weekly returns between FNGD and LVS is -0.18 over 3 years, -0.04 over 1 year and -0.32 over 5 years.
Is LVS a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
A reading of -0.18 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-lvs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-lvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · LVS correlations
