FNGD vs PDFS: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PDF Solutions, Inc. (PDFS) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PDFS?
Across a 3-year window, the weekly returns of FNGD and PDFS correlate at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.37 over 3 years. Stretching to 5 years gives -0.44, with an annualized covariance of -1327.1 %².
Among the 1743 assets we track against FNGD, PDFS ranks #1234 by 3-year correlation. The last year tells two different stories: PDFS led by 189.3 percentage points, -55.7% for FNGD against +133.6% for PDFS. One caveat on sizing: FNGD is 1.6 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 PDFS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PDFS (PDF Solutions, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +133.6% |
| 5-year return | -99.4% | +105.9% |
| Volatility (ann.) | 75.7% | 47.4% |
| Beta vs S&P 500 | -4.54 | 1.55 |
| Max drawdown (3Y) | -97.6% | -58.5% |
| Market cap | – | $1.9B |
| P/E (trailing) | 20.6 | 177.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PDFS |
|---|---|---|
| 2022 | +52.2% | -10.3% |
| 2023 | -90.1% | +12.7% |
| 2024 | -76.6% | -15.7% |
| 2025 | -61.4% | +5.4% |
| 2026 | -49.5% | +61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PDFS good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and PDFS?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.21 over the last year and -0.44 over 5 years.
Is PDFS a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · PDFS correlations
