FNGD vs PCTY: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Paylocity Holding Corporation (PCTY) 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 PCTY?
Over the past 3 years, FNGD and PCTY moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -813.6 %².
By 3-year correlation, PCTY places #852 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months PCTY outperformed by 43.0 percentage points (-55.7% for FNGD against -12.7% for PCTY). Risk is not evenly split, since FNGD carries 2.1 times the volatility of the other side.
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 PCTY: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PCTY (Paylocity Holding Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -12.7% |
| 5-year return | -99.4% | -41.2% |
| Volatility (ann.) | 75.7% | 35.4% |
| Beta vs S&P 500 | -4.54 | 0.62 |
| Max drawdown (3Y) | -97.6% | -56.3% |
| Market cap | – | $8.8B |
| P/E (trailing) | 20.6 | 30.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PCTY |
|---|---|---|
| 2022 | +52.2% | -17.7% |
| 2023 | -90.1% | -15.1% |
| 2024 | -76.6% | +21.0% |
| 2025 | -61.4% | -23.5% |
| 2026 | -49.5% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PCTY good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and PCTY?
As of 2026-08-27, the correlation of weekly returns between FNGD and PCTY is -0.30 over 3 years, -0.24 over 1 year and -0.47 over 5 years.
Is PCTY a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-pcty.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-pcty/)
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Related comparisons
Hubs: FNGD correlations · PCTY correlations
