FNGD vs PSIX: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Power Solutions International, Inc. (PSIX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PSIX?
Over the past 3 years, FNGD and PSIX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -2396.8 %².
Among the 1743 assets we track against FNGD, PSIX ranks #857 by 3-year correlation. Twelve-month performance is nearly a tie, at -55.7% for FNGD and -53.6% for PSIX.
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 PSIX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PSIX (Power Solutions International, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -53.6% |
| 5-year return | -99.4% | +670.8% |
| Volatility (ann.) | 75.7% | 104.2% |
| Beta vs S&P 500 | -4.54 | 2.68 |
| Max drawdown (3Y) | -97.6% | -78.0% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PSIX |
|---|---|---|
| 2022 | +52.2% | +0.0% |
| 2023 | -90.1% | -31.7% |
| 2024 | -76.6% | +1351.2% |
| 2025 | -61.4% | +92.1% |
| 2026 | -49.5% | -33.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PSIX good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PSIX?
The FNGD/PSIX correlation stands at -0.30 on a 3-year window (1 year: -0.25, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is PSIX a good diversifier for FNGD?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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-psix.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-psix/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · PSIX correlations
