FNGD vs SAIH: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SAIHEAT Limited - Class A (SAIH) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SAIH?
Across a 3-year window, the weekly returns of FNGD and SAIH correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.25). Stretching to 5 years gives -0.10, with an annualized covariance of -2097.6 %².
Among the 1743 assets we track against FNGD, SAIH ranks #458 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SAIH outperformed by 342.2 percentage points (-55.7% for FNGD against +286.5% for SAIH).
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 SAIH: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SAIH (SAIHEAT Limited - Class A) | |
|---|---|---|
| 1-year return | -55.7% | +286.5% |
| 5-year return | -99.4% | -83.7% |
| Volatility (ann.) | 75.7% | 112.8% |
| Beta vs S&P 500 | -4.54 | 2.00 |
| Max drawdown (3Y) | -97.6% | -85.5% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SAIH |
|---|---|---|
| 2022 | +52.2% | -79.6% |
| 2023 | -90.1% | -40.8% |
| 2024 | -76.6% | -35.3% |
| 2025 | -61.4% | -20.3% |
| 2026 | -49.5% | +158.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SAIH 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 SAIH?
As of 2026-08-27, the correlation of weekly returns between FNGD and SAIH is -0.25 over 3 years, -0.36 over 1 year and -0.10 over 5 years.
Is SAIH 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?
A reading of -0.25 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-saih.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-saih/)
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Related comparisons
Hubs: FNGD correlations · SAIH correlations
