FNGD vs SCM: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Stellus Capital Investment Corporation (SCM) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SCM?
Across a 3-year window, the weekly returns of FNGD and SCM correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.27). Stretching to 5 years gives -0.27, with an annualized covariance of -504.3 %².
By 3-year correlation, SCM places #630 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with SCM ahead by 23.0 points (-55.7% versus -32.7%). Note the risk asymmetry: FNGD runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SCM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SCM (Stellus Capital Investment Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -32.7% |
| 5-year return | -99.4% | +16.7% |
| Volatility (ann.) | 75.7% | 24.4% |
| Beta vs S&P 500 | -4.54 | 0.68 |
| Max drawdown (3Y) | -97.6% | -47.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | 8.4 |
| Dividend yield | 0.00% | 17.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SCM |
|---|---|---|
| 2022 | +52.2% | +12.9% |
| 2023 | -90.1% | +8.7% |
| 2024 | -76.6% | +20.3% |
| 2025 | -61.4% | +3.7% |
| 2026 | -49.5% | -26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SCM good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SCM?
The FNGD/SCM correlation stands at -0.27 on a 3-year window (1 year: -0.38, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is SCM a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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-scm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-scm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · SCM correlations
