FNGD vs QUIK: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and QuickLogic Corporation (QUIK) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and QUIK?
Over the past 3 years, FNGD and QUIK moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.45 lands near the 3-year figure. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -1960.6 %².
Within FNGD's tracked universe of 1743 assets, QUIK comes in at #1329 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QUIK outperformed by 163.8 percentage points (-55.7% for FNGD against +108.1% for QUIK).
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 QUIK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | QUIK (QuickLogic Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +108.1% |
| 5-year return | -99.4% | +89.6% |
| Volatility (ann.) | 75.7% | 66.7% |
| Beta vs S&P 500 | -4.54 | 1.92 |
| Max drawdown (3Y) | -97.6% | -76.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | QUIK |
|---|---|---|
| 2022 | +52.2% | +0.6% |
| 2023 | -90.1% | +169.6% |
| 2024 | -76.6% | -18.5% |
| 2025 | -61.4% | -46.8% |
| 2026 | -49.5% | +88.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and QUIK good diversifiers for each other?
Yes. With a correlation of -0.39, FNGD and QUIK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and QUIK?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.45 over the last year and -0.41 over 5 years.
Is QUIK a good diversifier for FNGD?
Yes. With a correlation of -0.39, FNGD and QUIK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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.
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Related comparisons
Hubs: FNGD correlations · QUIK correlations
