FNGD vs RDVT: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Red Violet, Inc. (RDVT) 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 RDVT?
Over the past 3 years, FNGD and RDVT moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -1219.1 %².
Within FNGD's tracked universe of 1743 assets, RDVT comes in at #1202 by 3-year correlation. The last year tells two different stories: RDVT led by 101.8 percentage points, -55.7% for FNGD against +46.1% for RDVT. One caveat on sizing: FNGD is 1.7 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 RDVT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RDVT (Red Violet, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +46.1% |
| 5-year return | -99.4% | +153.0% |
| Volatility (ann.) | 75.7% | 45.1% |
| Beta vs S&P 500 | -4.54 | 1.12 |
| Max drawdown (3Y) | -97.6% | -42.1% |
| Market cap | – | $1.2B |
| P/E (trailing) | 20.6 | 63.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RDVT |
|---|---|---|
| 2022 | +52.2% | -42.0% |
| 2023 | -90.1% | -13.2% |
| 2024 | -76.6% | +81.3% |
| 2025 | -61.4% | +58.6% |
| 2026 | -49.5% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RDVT good diversifiers for each other?
Yes. With a correlation of -0.36, FNGD and RDVT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RDVT?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.43 over the last year and -0.35 over 5 years.
Is RDVT a good diversifier for FNGD?
Yes. With a correlation of -0.36, FNGD and RDVT 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-rdvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-rdvt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · RDVT correlations
