FNGD vs OSS: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and One Stop Systems, Inc. (OSS) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and OSS?
Across a 3-year window, the weekly returns of FNGD and OSS correlate at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.29 over 3 years. Stretching to 5 years gives -0.28, with an annualized covariance of -1818.9 %².
By 3-year correlation, OSS places #790 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months OSS outperformed by 136.2 percentage points (-55.7% for FNGD against +80.5% for OSS).
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 OSS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | OSS (One Stop Systems, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +80.5% |
| 5-year return | -99.4% | +103.2% |
| Volatility (ann.) | 75.7% | 82.4% |
| Beta vs S&P 500 | -4.54 | 1.82 |
| Max drawdown (3Y) | -97.6% | -56.0% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | OSS |
|---|---|---|
| 2022 | +52.2% | -39.2% |
| 2023 | -90.1% | -30.2% |
| 2024 | -76.6% | +59.5% |
| 2025 | -61.4% | +114.3% |
| 2026 | -49.5% | +57.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and OSS good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and OSS?
The FNGD/OSS correlation stands at -0.29 on a 3-year window (1 year: -0.43, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is OSS a good diversifier for FNGD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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.
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Related comparisons
Hubs: FNGD correlations · OSS correlations
