FNGD vs MDB: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and MongoDB, Inc. (MDB) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MDB?
Over the past 3 years, FNGD and MDB moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.43 over 3. Over 5 years the correlation is -0.55, and the annualized covariance of weekly returns is -2043.5 %².
By 3-year correlation, MDB places #1454 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with MDB ahead by 104.7 points (-55.7% versus +49.0%).
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 MDB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MDB (MongoDB, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +49.0% |
| 5-year return | -99.4% | +11.2% |
| Volatility (ann.) | 75.7% | 63.4% |
| Beta vs S&P 500 | -4.54 | 1.93 |
| Max drawdown (3Y) | -97.6% | -70.9% |
| Market cap | – | $35.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MDB |
|---|---|---|
| 2022 | +52.2% | -62.8% |
| 2023 | -90.1% | +107.7% |
| 2024 | -76.6% | -43.1% |
| 2025 | -61.4% | +80.3% |
| 2026 | -49.5% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MDB good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and MDB?
The FNGD/MDB correlation stands at -0.43 on a 3-year window (1 year: -0.37, 5 years: -0.55), computed from weekly returns as of 2026-08-27.
Is MDB a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
A reading of -0.43 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-mdb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-mdb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · MDB correlations
