FNGD vs PLPC: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Preformed Line Products Company (PLPC) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PLPC?
Across a 3-year window, the weekly returns of FNGD and PLPC correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -746.2 %².
Among the 1743 assets we track against FNGD, PLPC ranks #275 by 3-year correlation. The last year tells two different stories: PLPC led by 177.1 percentage points, -55.7% for FNGD against +121.4% for PLPC. Risk is not evenly split, since FNGD carries 1.8 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 PLPC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PLPC (Preformed Line Products Company) | |
|---|---|---|
| 1-year return | -55.7% | +121.4% |
| 5-year return | -99.4% | +514.6% |
| Volatility (ann.) | 75.7% | 42.3% |
| Beta vs S&P 500 | -4.54 | 0.76 |
| Max drawdown (3Y) | -97.6% | -38.5% |
| Market cap | – | $2.1B |
| P/E (trailing) | 20.6 | 46.4 |
| Dividend yield | 0.00% | 0.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PLPC |
|---|---|---|
| 2022 | +52.2% | +29.9% |
| 2023 | -90.1% | +61.8% |
| 2024 | -76.6% | -3.9% |
| 2025 | -61.4% | +62.6% |
| 2026 | -49.5% | +104.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PLPC good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and PLPC?
As of 2026-08-27, the correlation of weekly returns between FNGD and PLPC is -0.23 over 3 years, -0.26 over 1 year and -0.28 over 5 years.
Is PLPC a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-plpc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-plpc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PLPC correlations
