FNGD vs RPAY: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Repay Holdings Corporation (RPAY) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RPAY?
Across a 3-year window, the weekly returns of FNGD and RPAY correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -1041.6 %².
Among the 1743 assets we track against FNGD, RPAY ranks #456 by 3-year correlation. The last year tells two different stories: RPAY led by 20.0 percentage points, -55.7% for FNGD against -35.7% for RPAY.
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 RPAY: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RPAY (Repay Holdings Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -35.7% |
| 5-year return | -99.4% | -83.6% |
| Volatility (ann.) | 75.7% | 54.1% |
| Beta vs S&P 500 | -4.54 | 1.37 |
| Max drawdown (3Y) | -97.6% | -78.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RPAY |
|---|---|---|
| 2022 | +52.2% | -55.9% |
| 2023 | -90.1% | +6.1% |
| 2024 | -76.6% | -10.7% |
| 2025 | -61.4% | -52.2% |
| 2026 | -49.5% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RPAY good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and RPAY?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.28 over the last year and -0.34 over 5 years.
Is RPAY a good diversifier for FNGD?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-rpay.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rpay/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · RPAY correlations
