FNGD vs RSI: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rush Street Interactive, Inc. (RSI) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RSI?
On 3 years of weekly data the FNGD/RSI correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.07) runs above the 3-year figure (-0.22). The 5-year figure is -0.39, and annualized covariance runs at -972.9 %².
By 3-year correlation, RSI places #197 of the 1743 assets tracked against FNGD. The last year tells two different stories: RSI led by 75.9 percentage points, -55.7% for FNGD against +20.2% for RSI.
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 RSI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RSI (Rush Street Interactive, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +20.2% |
| 5-year return | -99.4% | +79.9% |
| Volatility (ann.) | 75.7% | 58.1% |
| Beta vs S&P 500 | -4.54 | 1.00 |
| Max drawdown (3Y) | -97.6% | -42.0% |
| Market cap | – | $6.4B |
| P/E (trailing) | 20.6 | 84.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RSI |
|---|---|---|
| 2022 | +52.2% | -78.2% |
| 2023 | -90.1% | +25.1% |
| 2024 | -76.6% | +205.6% |
| 2025 | -61.4% | +41.6% |
| 2026 | -49.5% | +34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RSI good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and RSI?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.07 over the last year and -0.39 over 5 years.
Is RSI a good diversifier for FNGD?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · RSI correlations
