FNGD vs RAMP: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and LiveRamp Holdings, Inc. (RAMP) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RAMP?
Across a 3-year window, the weekly returns of FNGD and RAMP correlate at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.36). Stretching to 5 years gives -0.50, with an annualized covariance of -1107.4 %².
Within FNGD's tracked universe of 1743 assets, RAMP comes in at #1201 by 3-year correlation. The last year tells two different stories: RAMP led by 93.8 percentage points, -55.7% for FNGD against +38.1% for RAMP. One caveat on sizing: FNGD is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RAMP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RAMP (LiveRamp Holdings, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +38.1% |
| 5-year return | -99.4% | -22.9% |
| Volatility (ann.) | 75.7% | 40.4% |
| Beta vs S&P 500 | -4.54 | 1.07 |
| Max drawdown (3Y) | -97.6% | -48.2% |
| Market cap | – | $2.3B |
| P/E (trailing) | 20.6 | 15.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RAMP |
|---|---|---|
| 2022 | +52.2% | -51.1% |
| 2023 | -90.1% | +61.6% |
| 2024 | -76.6% | -19.8% |
| 2025 | -61.4% | -3.3% |
| 2026 | -49.5% | +28.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RAMP good diversifiers for each other?
Yes. With a correlation of -0.36, FNGD and RAMP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RAMP?
As of 2026-08-27, the correlation of weekly returns between FNGD and RAMP is -0.36 over 3 years, -0.20 over 1 year and -0.50 over 5 years.
Is RAMP a good diversifier for FNGD?
Yes. With a correlation of -0.36, FNGD and RAMP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
A reading of -0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · RAMP correlations
