FNGD vs PLXS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Plexus Corp. (PLXS) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PLXS?
Across a 3-year window, the weekly returns of FNGD and PLXS correlate at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.14 versus -0.30 over 3 years. Stretching to 5 years gives -0.33, with an annualized covariance of -766.5 %².
By 3-year correlation, PLXS places #854 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with PLXS ahead by 132.8 points (-55.7% versus +77.1%). One caveat on sizing: FNGD is 2.3 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 PLXS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PLXS (Plexus Corp.) | |
|---|---|---|
| 1-year return | -55.7% | +77.1% |
| 5-year return | -99.4% | +165.9% |
| Volatility (ann.) | 75.7% | 33.3% |
| Beta vs S&P 500 | -4.54 | 1.03 |
| Max drawdown (3Y) | -97.6% | -34.9% |
| Market cap | – | $6.5B |
| P/E (trailing) | 20.6 | 36.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PLXS |
|---|---|---|
| 2022 | +52.2% | +7.3% |
| 2023 | -90.1% | +5.1% |
| 2024 | -76.6% | +44.7% |
| 2025 | -61.4% | -6.1% |
| 2026 | -49.5% | +67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PLXS 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 PLXS?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.14 over the last year and -0.33 over 5 years.
Is PLXS 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?
A reading of -0.30 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-plxs.json
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[](https://www.pairbook.io/pair/fngd-vs-plxs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PLXS correlations
