FNGD vs RBLX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Roblox Corporation (RBLX) show a negative relationship: their 3-year correlation of weekly returns is -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RBLX?
Over the past 3 years, FNGD and RBLX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -1561.6 %².
Within FNGD's tracked universe of 1743 assets, RBLX comes in at #1285 by 3-year correlation. The trailing year gives FNGD the advantage: -55.7% versus -68.9%, a 13.2-point spread.
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 RBLX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RBLX (Roblox Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -68.9% |
| 5-year return | -99.4% | -53.4% |
| Volatility (ann.) | 75.7% | 54.8% |
| Beta vs S&P 500 | -4.54 | 1.26 |
| Max drawdown (3Y) | -97.6% | -74.9% |
| Market cap | – | $27.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RBLX |
|---|---|---|
| 2022 | +52.2% | -72.4% |
| 2023 | -90.1% | +60.6% |
| 2024 | -76.6% | +26.6% |
| 2025 | -61.4% | +40.0% |
| 2026 | -49.5% | -52.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RBLX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and RBLX?
The FNGD/RBLX correlation stands at -0.38 on a 3-year window (1 year: -0.29, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is RBLX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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-rblx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rblx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · RBLX correlations
