FNGD vs PINS: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Pinterest, Inc. (PINS) show a negative relationship: their 3-year correlation of weekly returns is -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PINS?
Across a 3-year window, the weekly returns of FNGD and PINS correlate at -0.43, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. Stretching to 5 years gives -0.45, with an annualized covariance of -1551.4 %².
By 3-year correlation, PINS places #1459 of the 1743 assets tracked against FNGD. The last year tells two different stories: PINS led by 19.0 percentage points, -55.7% for FNGD against -36.7% for PINS. 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 PINS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PINS (Pinterest, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -36.7% |
| 5-year return | -99.4% | -59.5% |
| Volatility (ann.) | 75.7% | 48.1% |
| Beta vs S&P 500 | -4.54 | 1.48 |
| Max drawdown (3Y) | -97.6% | -65.7% |
| Market cap | – | $13.0B |
| P/E (trailing) | 20.6 | 69.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PINS |
|---|---|---|
| 2022 | +52.2% | -33.2% |
| 2023 | -90.1% | +52.6% |
| 2024 | -76.6% | -21.7% |
| 2025 | -61.4% | -10.7% |
| 2026 | -49.5% | -11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PINS good diversifiers for each other?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PINS?
As of 2026-08-27, the correlation of weekly returns between FNGD and PINS is -0.43 over 3 years, -0.40 over 1 year and -0.45 over 5 years.
Is PINS a good diversifier for FNGD?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.43 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-pins.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-pins/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PINS correlations
