FNGD vs PYPL: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and PayPal (PYPL) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PYPL?
Across a 3-year window, the weekly returns of FNGD and PYPL correlate at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.30) than the 3-year average (-0.41). Stretching to 5 years gives -0.48, with an annualized covariance of -1148.4 %².
Among the 1743 assets we track against FNGD, PYPL ranks #1392 by 3-year correlation. The last year tells two different stories: PYPL led by 44.7 percentage points, -55.7% for FNGD against -11.0% for PYPL. Risk is not evenly split, since FNGD carries 2.0 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 PYPL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PYPL (PayPal) | |
|---|---|---|
| 1-year return | -55.7% | -11.0% |
| 5-year return | -99.4% | -78.5% |
| Volatility (ann.) | 75.7% | 37.1% |
| Beta vs S&P 500 | -4.54 | 1.15 |
| Max drawdown (3Y) | -97.6% | -57.3% |
| Market cap | – | $52.6B |
| P/E (trailing) | 20.6 | 11.7 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FNGD | PYPL |
|---|---|---|
| 2022 | +52.2% | -62.2% |
| 2023 | -90.1% | -13.8% |
| 2024 | -76.6% | +39.0% |
| 2025 | -61.4% | -31.4% |
| 2026 | -49.5% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PYPL good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PYPL?
As of 2026-08-27, the correlation of weekly returns between FNGD and PYPL is -0.41 over 3 years, -0.30 over 1 year and -0.48 over 5 years.
Is PYPL a good diversifier for FNGD?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 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-pypl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-pypl/)
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Related comparisons
Hubs: FNGD correlations · PYPL correlations
