FNGD vs SCD: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and LMP Capital and Income Fund Inc. (SCD) show a negative relationship: their 3-year correlation of weekly returns is -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SCD?
Over the past 3 years, FNGD and SCD moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.48 over 3 years. Over 5 years the correlation is -0.53, and the annualized covariance of weekly returns is -633.8 %².
Among the 1743 assets we track against FNGD, SCD ranks #1556 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SCD ahead by 66.6 points (-55.7% versus +10.9%). Risk is not evenly split, since FNGD carries 4.4 times the volatility of the other side.
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 SCD: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SCD (LMP Capital and Income Fund Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +10.9% |
| 5-year return | -99.4% | +68.6% |
| Volatility (ann.) | 75.7% | 17.4% |
| Beta vs S&P 500 | -4.54 | 0.81 |
| Max drawdown (3Y) | -97.6% | -21.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 5.1 |
| Dividend yield | 0.00% | 9.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SCD |
|---|---|---|
| 2022 | +52.2% | -14.0% |
| 2023 | -90.1% | +27.9% |
| 2024 | -76.6% | +33.7% |
| 2025 | -61.4% | -5.7% |
| 2026 | -49.5% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SCD good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SCD?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.30 over the last year and -0.53 over 5 years.
Is SCD a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 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-scd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-scd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · SCD correlations
