FNGD vs PTON: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Peloton Interactive, Inc. (PTON) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PTON?
On 3 years of weekly data the FNGD/PTON correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.33 over 3. The 5-year figure is -0.39, and annualized covariance runs at -1869.8 %².
Among the 1743 assets we track against FNGD, PTON ranks #1052 by 3-year correlation. The last year tells two different stories: PTON led by 24.7 percentage points, -55.7% for FNGD against -31.0% for PTON.
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 PTON: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PTON (Peloton Interactive, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -31.0% |
| 5-year return | -99.4% | -94.8% |
| Volatility (ann.) | 75.7% | 74.3% |
| Beta vs S&P 500 | -4.54 | 2.10 |
| Max drawdown (3Y) | -97.6% | -64.9% |
| Market cap | – | $2.3B |
| P/E (trailing) | 20.6 | 37.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PTON |
|---|---|---|
| 2022 | +52.2% | -77.8% |
| 2023 | -90.1% | -23.3% |
| 2024 | -76.6% | +42.9% |
| 2025 | -61.4% | -29.2% |
| 2026 | -49.5% | -14.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PTON good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and PTON?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.32 over the last year and -0.39 over 5 years.
Is PTON a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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-pton.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-pton/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · PTON correlations
