FNGD vs LYFT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lyft, Inc. (LYFT) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LYFT?
Over the past 3 years, FNGD and LYFT moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.33 over 3 years. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -1527.0 %².
By 3-year correlation, LYFT places #1045 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months LYFT outperformed by 62.5 percentage points (-55.7% for FNGD against +6.8% for LYFT).
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 LYFT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LYFT (Lyft, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +6.8% |
| 5-year return | -99.4% | -63.2% |
| Volatility (ann.) | 75.7% | 61.8% |
| Beta vs S&P 500 | -4.54 | 1.77 |
| Max drawdown (3Y) | -97.6% | -55.2% |
| Market cap | – | $6.6B |
| P/E (trailing) | 20.6 | 2.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LYFT |
|---|---|---|
| 2022 | +52.2% | -74.2% |
| 2023 | -90.1% | +36.0% |
| 2024 | -76.6% | -13.9% |
| 2025 | -61.4% | +50.2% |
| 2026 | -49.5% | -10.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LYFT good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LYFT?
As of 2026-08-27, the correlation of weekly returns between FNGD and LYFT is -0.33 over 3 years, -0.49 over 1 year and -0.36 over 5 years.
Is LYFT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 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
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-lyft.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-lyft/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · LYFT correlations
