FNGD vs RPC: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Ridgepost Capital, Inc. (RPC) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RPC?
On 3 years of weekly data the FNGD/RPC correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. The 5-year figure is -0.35, and annualized covariance runs at -1073.2 %².
By 3-year correlation, RPC places #1237 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with RPC ahead by 26.9 points (-55.7% versus -28.8%). Risk is not evenly split, since FNGD carries 2.0 times the volatility of the other side.
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 RPC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RPC (Ridgepost Capital, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -28.8% |
| 5-year return | -99.4% | -23.6% |
| Volatility (ann.) | 75.7% | 38.1% |
| Beta vs S&P 500 | -4.54 | 1.41 |
| Max drawdown (3Y) | -97.6% | -50.2% |
| Market cap | – | $1.0B |
| P/E (trailing) | 20.6 | 36.3 |
| Dividend yield | 0.00% | 1.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RPC |
|---|---|---|
| 2022 | +52.2% | -23.1% |
| 2023 | -90.1% | -3.0% |
| 2024 | -76.6% | +25.2% |
| 2025 | -61.4% | -21.2% |
| 2026 | -49.5% | -10.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RPC good diversifiers for each other?
Yes. With a correlation of -0.37, FNGD and RPC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RPC?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.43 over the last year and -0.35 over 5 years.
Is RPC a good diversifier for FNGD?
Yes. With a correlation of -0.37, FNGD and RPC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 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-rpc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-rpc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · RPC correlations
