FNGD vs PCT: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PureCycle Technologies, Inc. (PCT) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PCT?
Across a 3-year window, the weekly returns of FNGD and PCT correlate at -0.30, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.37) sits close to the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -2194.7 %².
Among the 1743 assets we track against FNGD, PCT ranks #851 by 3-year correlation. Their 12-month results are close: -55.7% for FNGD against -55.2% for PCT.
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 PCT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PCT (PureCycle Technologies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -55.2% |
| 5-year return | -99.4% | -52.3% |
| Volatility (ann.) | 75.7% | 98.0% |
| Beta vs S&P 500 | -4.54 | 2.42 |
| Max drawdown (3Y) | -97.6% | -74.2% |
| Market cap | – | $1.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PCT |
|---|---|---|
| 2022 | +52.2% | -29.4% |
| 2023 | -90.1% | -40.1% |
| 2024 | -76.6% | +153.1% |
| 2025 | -61.4% | -16.2% |
| 2026 | -49.5% | -22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PCT good diversifiers for each other?
Yes. With a correlation of -0.30, FNGD and PCT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and PCT?
As of 2026-08-27, the correlation of weekly returns between FNGD and PCT is -0.30 over 3 years, -0.37 over 1 year and -0.28 over 5 years.
Is PCT a good diversifier for FNGD?
Yes. With a correlation of -0.30, FNGD and PCT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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-pct.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-pct/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PCT correlations
