FNGD vs SAMG: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Silvercrest Asset Management Group Inc. (SAMG) 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 SAMG?
Over the past 3 years, FNGD and SAMG moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.22). Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -448.2 %².
Among the 1743 assets we track against FNGD, SAMG ranks #198 by 3-year correlation. The last year tells two different stories: SAMG led by 20.1 percentage points, -55.7% for FNGD against -35.6% for SAMG. One caveat on sizing: FNGD is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SAMG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SAMG (Silvercrest Asset Management Group Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -35.6% |
| 5-year return | -99.4% | -20.3% |
| Volatility (ann.) | 75.7% | 27.4% |
| Beta vs S&P 500 | -4.54 | 0.75 |
| Max drawdown (3Y) | -97.6% | -44.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | 72.3 |
| Dividend yield | 0.00% | 4.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SAMG |
|---|---|---|
| 2022 | +52.2% | +13.6% |
| 2023 | -90.1% | -5.7% |
| 2024 | -76.6% | +13.3% |
| 2025 | -61.4% | -13.0% |
| 2026 | -49.5% | -31.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SAMG good diversifiers for each other?
Yes. With a correlation of -0.22, FNGD and SAMG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SAMG?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.04 over the last year and -0.31 over 5 years.
Is SAMG a good diversifier for FNGD?
Yes. With a correlation of -0.22, FNGD and SAMG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-samg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-samg/)
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Related comparisons
Hubs: FNGD correlations · SAMG correlations
