FNGD vs PK: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Park Hotels & Resorts Inc. (PK) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PK?
Across a 3-year window, the weekly returns of FNGD and PK correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.13) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.35, with an annualized covariance of -532.8 %².
By 3-year correlation, PK places #193 of the 1743 assets tracked against FNGD. The last year tells two different stories: PK led by 99.1 percentage points, -55.7% for FNGD against +43.4% for PK. Note the risk asymmetry: FNGD runs 2.4 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 PK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PK (Park Hotels & Resorts Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +43.4% |
| 5-year return | -99.4% | +21.9% |
| Volatility (ann.) | 75.7% | 31.8% |
| Beta vs S&P 500 | -4.54 | 0.99 |
| Max drawdown (3Y) | -97.6% | -44.8% |
| Market cap | – | $3.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 6.28% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PK |
|---|---|---|
| 2022 | +52.2% | -36.0% |
| 2023 | -90.1% | +49.4% |
| 2024 | -76.6% | +1.0% |
| 2025 | -61.4% | -18.4% |
| 2026 | -49.5% | +56.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PK good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and PK?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.13 over the last year and -0.35 over 5 years.
Is PK a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-pk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-pk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PK correlations
