FNGD vs RPD: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rapid7, Inc. (RPD) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RPD?
Over the past 3 years, FNGD and RPD moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.52 versus -0.41 over 3 years. Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -1740.9 %².
By 3-year correlation, RPD places #1397 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with RPD ahead by 21.0 points (-55.7% versus -34.7%).
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 RPD: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RPD (Rapid7, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -34.7% |
| 5-year return | -99.4% | -88.9% |
| Volatility (ann.) | 75.7% | 56.3% |
| Beta vs S&P 500 | -4.54 | 1.42 |
| Max drawdown (3Y) | -97.6% | -91.8% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | 37.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RPD |
|---|---|---|
| 2022 | +52.2% | -71.1% |
| 2023 | -90.1% | +68.0% |
| 2024 | -76.6% | -29.5% |
| 2025 | -61.4% | -62.2% |
| 2026 | -49.5% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RPD good diversifiers for each other?
Yes. With a correlation of -0.41, FNGD and RPD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RPD?
As of 2026-08-27, the correlation of weekly returns between FNGD and RPD is -0.41 over 3 years, -0.52 over 1 year and -0.45 over 5 years.
Is RPD a good diversifier for FNGD?
Yes. With a correlation of -0.41, FNGD and RPD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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-rpd.json
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Related comparisons
Hubs: FNGD correlations · RPD correlations
