FNGD vs NTCT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and NetScout Systems, Inc. (NTCT) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NTCT?
Over the past 3 years, FNGD and NTCT moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.12 versus -0.27 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -624.0 %².
By 3-year correlation, NTCT places #619 of the 1743 assets tracked against FNGD. The last year tells two different stories: NTCT led by 115.1 percentage points, -55.7% for FNGD against +59.4% for NTCT. Note the risk asymmetry: FNGD runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NTCT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NTCT (NetScout Systems, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +59.4% |
| 5-year return | -99.4% | +42.7% |
| Volatility (ann.) | 75.7% | 30.4% |
| Beta vs S&P 500 | -4.54 | 0.85 |
| Max drawdown (3Y) | -97.6% | -38.4% |
| Market cap | – | $2.9B |
| P/E (trailing) | 20.6 | 23.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NTCT |
|---|---|---|
| 2022 | +52.2% | -1.7% |
| 2023 | -90.1% | -32.5% |
| 2024 | -76.6% | -1.3% |
| 2025 | -61.4% | +24.9% |
| 2026 | -49.5% | +45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NTCT good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and NTCT?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.12 over the last year and -0.26 over 5 years.
Is NTCT a good diversifier for FNGD?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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-ntct.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ntct/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · NTCT correlations
