FNGD vs MASS: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and 908 Devices Inc. (MASS) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MASS?
Across a 3-year window, the weekly returns of FNGD and MASS correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.19 over 3 years. Stretching to 5 years gives -0.28, with an annualized covariance of -1171.1 %².
By 3-year correlation, MASS places #57 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months MASS outperformed by 131.9 percentage points (-55.7% for FNGD against +76.2% for MASS).
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 MASS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MASS (908 Devices Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +76.2% |
| 5-year return | -99.4% | -69.9% |
| Volatility (ann.) | 75.7% | 82.7% |
| Beta vs S&P 500 | -4.54 | 1.55 |
| Max drawdown (3Y) | -97.6% | -84.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MASS |
|---|---|---|
| 2022 | +52.2% | -70.5% |
| 2023 | -90.1% | +47.2% |
| 2024 | -76.6% | -80.4% |
| 2025 | -61.4% | +138.6% |
| 2026 | -49.5% | +111.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MASS good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MASS?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.33 over the last year and -0.28 over 5 years.
Is MASS a good diversifier for FNGD?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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-mass.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-mass/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · MASS correlations
