FNGD vs POLA: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Polar Power, Inc. (POLA) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and POLA?
On 3 years of weekly data the FNGD/POLA correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.28, and annualized covariance runs at -1671.5 %².
By 3-year correlation, POLA places #792 of the 1743 assets tracked against FNGD. The last year tells two different stories: POLA led by 25.3 percentage points, -55.7% for FNGD against -30.4% for POLA.
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 POLA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | POLA (Polar Power, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -30.4% |
| 5-year return | -99.4% | -97.1% |
| Volatility (ann.) | 75.7% | 77.1% |
| Beta vs S&P 500 | -4.54 | 1.65 |
| Max drawdown (3Y) | -97.6% | -87.6% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | POLA |
|---|---|---|
| 2022 | +52.2% | -64.0% |
| 2023 | -90.1% | -68.2% |
| 2024 | -76.6% | +11.5% |
| 2025 | -61.4% | -47.8% |
| 2026 | -49.5% | -13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and POLA good diversifiers for each other?
Yes. With a correlation of -0.29, FNGD and POLA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and POLA?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.32 over the last year and -0.28 over 5 years.
Is POLA a good diversifier for FNGD?
Yes. With a correlation of -0.29, FNGD and POLA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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-pola.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-pola/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · POLA correlations
