FNGD vs PAYC: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Paycom Software, Inc. (PAYC) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PAYC?
On 3 years of weekly data the FNGD/PAYC correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.26). The 5-year figure is -0.44, and annualized covariance runs at -928.1 %².
Within FNGD's tracked universe of 1743 assets, PAYC comes in at #524 by 3-year correlation. The last year tells two different stories: PAYC led by 60.7 percentage points, -55.7% for FNGD against +5.0% for PAYC. Note the risk asymmetry: FNGD runs 1.6 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 PAYC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PAYC (Paycom Software, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +5.0% |
| 5-year return | -99.4% | -50.2% |
| Volatility (ann.) | 75.7% | 46.9% |
| Beta vs S&P 500 | -4.54 | 0.72 |
| Max drawdown (3Y) | -97.6% | -60.8% |
| Market cap | – | $10.7B |
| P/E (trailing) | 20.6 | 25.1 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PAYC |
|---|---|---|
| 2022 | +52.2% | -25.3% |
| 2023 | -90.1% | -33.1% |
| 2024 | -76.6% | -0.0% |
| 2025 | -61.4% | -21.7% |
| 2026 | -49.5% | +49.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PAYC good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and PAYC?
As of 2026-08-27, the correlation of weekly returns between FNGD and PAYC is -0.26 over 3 years, -0.39 over 1 year and -0.44 over 5 years.
Is PAYC a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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-payc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-payc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · PAYC correlations
