FNGD vs MYPS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PLAYSTUDIOS, Inc. (MYPS) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MYPS?
Across a 3-year window, the weekly returns of FNGD and MYPS correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.29, with an annualized covariance of -1391.3 %².
Among the 1743 assets we track against FNGD, MYPS ranks #974 by 3-year correlation. Over the last 12 months MYPS came out ahead by 5.7 percentage points (-55.7% against -50.0%).
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 MYPS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MYPS (PLAYSTUDIOS, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -50.0% |
| 5-year return | -99.4% | -90.2% |
| Volatility (ann.) | 75.7% | 58.2% |
| Beta vs S&P 500 | -4.54 | 1.24 |
| Max drawdown (3Y) | -97.6% | -88.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MYPS |
|---|---|---|
| 2022 | +52.2% | -1.8% |
| 2023 | -90.1% | -30.2% |
| 2024 | -76.6% | -31.4% |
| 2025 | -61.4% | -64.9% |
| 2026 | -49.5% | -22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MYPS good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and MYPS?
The FNGD/MYPS correlation stands at -0.32 on a 3-year window (1 year: -0.39, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is MYPS a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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-myps.json
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Related comparisons
Hubs: FNGD correlations · MYPS correlations
