FNGD vs SCSC: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ScanSource, Inc. (SCSC) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SCSC?
On 3 years of weekly data the FNGD/SCSC correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.32 over 3. The 5-year figure is -0.37, and annualized covariance runs at -863.2 %².
By 3-year correlation, SCSC places #988 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with SCSC ahead by 85.7 points (-55.7% versus +30.0%). Note the risk asymmetry: FNGD runs 2.1 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 SCSC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SCSC (ScanSource, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +30.0% |
| 5-year return | -99.4% | +60.7% |
| Volatility (ann.) | 75.7% | 35.5% |
| Beta vs S&P 500 | -4.54 | 1.21 |
| Max drawdown (3Y) | -97.6% | -44.2% |
| Market cap | – | $1.2B |
| P/E (trailing) | 20.6 | 15.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SCSC |
|---|---|---|
| 2022 | +52.2% | -16.7% |
| 2023 | -90.1% | +35.6% |
| 2024 | -76.6% | +19.8% |
| 2025 | -61.4% | -17.7% |
| 2026 | -49.5% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SCSC good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SCSC?
As of 2026-08-27, the correlation of weekly returns between FNGD and SCSC is -0.32 over 3 years, -0.33 over 1 year and -0.37 over 5 years.
Is SCSC a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-scsc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-scsc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SCSC correlations
