FNGD vs ODD: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ODDITY Tech Ltd. - Class A (ODD) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ODD?
Across a 3-year window, the weekly returns of FNGD and ODD correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.32 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -1826.1 %².
By 3-year correlation, ODD places #977 of the 1743 assets tracked against FNGD. The last year tells two different stories: FNGD led by 19.5 percentage points, -55.7% for FNGD against -75.2% for ODD.
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 ODD: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ODD (ODDITY Tech Ltd. - Class A) | |
|---|---|---|
| 1-year return | -55.7% | -75.2% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 75.9% |
| Beta vs S&P 500 | -4.54 | 1.78 |
| Max drawdown (3Y) | -97.6% | -87.3% |
| Market cap | – | $0.7B |
| P/E (trailing) | 20.6 | 18.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ODD |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | – |
| 2024 | -76.6% | -9.7% |
| 2025 | -61.4% | -4.4% |
| 2026 | -49.5% | -62.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ODD 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 ODD?
The FNGD/ODD correlation stands at -0.32 on a 3-year window (1 year: -0.32, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ODD 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-odd.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · ODD correlations
