FNGD vs RVLV: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Revolve Group, Inc. (RVLV) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RVLV?
On 3 years of weekly data the FNGD/RVLV correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.31 over 3 years. The 5-year figure is -0.46, and annualized covariance runs at -1279.1 %².
By 3-year correlation, RVLV places #918 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months RVLV outperformed by 55.8 percentage points (-55.7% for FNGD against +0.1% for RVLV).
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 RVLV: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RVLV (Revolve Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +0.1% |
| 5-year return | -99.4% | -59.7% |
| Volatility (ann.) | 75.7% | 54.1% |
| Beta vs S&P 500 | -4.54 | 1.64 |
| Max drawdown (3Y) | -97.6% | -56.0% |
| Market cap | – | $1.6B |
| P/E (trailing) | 20.6 | 23.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RVLV |
|---|---|---|
| 2022 | +52.2% | -60.3% |
| 2023 | -90.1% | -25.5% |
| 2024 | -76.6% | +102.0% |
| 2025 | -61.4% | -9.9% |
| 2026 | -49.5% | -23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RVLV good diversifiers for each other?
Yes. With a correlation of -0.31, FNGD and RVLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RVLV?
The FNGD/RVLV correlation stands at -0.31 on a 3-year window (1 year: -0.11, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is RVLV a good diversifier for FNGD?
Yes. With a correlation of -0.31, FNGD and RVLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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-rvlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rvlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · RVLV correlations
