FNGD vs PAC: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo (PAC) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PAC?
On 3 years of weekly data the FNGD/PAC correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.00) than the 3-year average (-0.23). The 5-year figure is -0.28, and annualized covariance runs at -686.3 %².
Among the 1743 assets we track against FNGD, PAC ranks #271 by 3-year correlation. The last year tells two different stories: PAC led by 44.1 percentage points, -55.7% for FNGD against -11.6% for PAC. One caveat on sizing: FNGD is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PAC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PAC (Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo) | |
|---|---|---|
| 1-year return | -55.7% | -11.6% |
| 5-year return | -99.4% | +135.8% |
| Volatility (ann.) | 75.7% | 39.2% |
| Beta vs S&P 500 | -4.54 | 1.01 |
| Max drawdown (3Y) | -97.6% | -42.8% |
| Market cap | – | $12.8B |
| P/E (trailing) | 20.6 | 19.7 |
| Dividend yield | 0.00% | 9.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PAC |
|---|---|---|
| 2022 | +52.2% | +9.8% |
| 2023 | -90.1% | +28.6% |
| 2024 | -76.6% | +4.2% |
| 2025 | -61.4% | +56.3% |
| 2026 | -49.5% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PAC good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PAC?
The FNGD/PAC correlation stands at -0.23 on a 3-year window (1 year: -0.00, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is PAC a good diversifier for FNGD?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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
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Related comparisons
Hubs: FNGD correlations · PAC correlations
