FNGD vs NRDS: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and NerdWallet, Inc. (NRDS) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NRDS?
Over the past 3 years, FNGD and NRDS moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.26 over 3. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -1073.4 %².
Among the 1743 assets we track against FNGD, NRDS ranks #515 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NRDS outperformed by 48.3 percentage points (-55.7% for FNGD against -7.4% for NRDS).
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 NRDS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NRDS (NerdWallet, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -7.4% |
| 5-year return | -99.4% | -65.7% |
| Volatility (ann.) | 75.7% | 55.3% |
| Beta vs S&P 500 | -4.54 | 1.08 |
| Max drawdown (3Y) | -97.6% | -55.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | 20.6 | 10.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NRDS |
|---|---|---|
| 2022 | +52.2% | -38.3% |
| 2023 | -90.1% | +53.3% |
| 2024 | -76.6% | -9.6% |
| 2025 | -61.4% | +1.9% |
| 2026 | -49.5% | -28.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NRDS good diversifiers for each other?
Yes. With a correlation of -0.26, FNGD and NRDS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and NRDS?
As of 2026-08-27, the correlation of weekly returns between FNGD and NRDS is -0.26 over 3 years, -0.29 over 1 year and -0.31 over 5 years.
Is NRDS a good diversifier for FNGD?
Yes. With a correlation of -0.26, FNGD and NRDS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-nrds.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-nrds/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · NRDS correlations
