FNGD vs SFIX: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Stitch Fix, Inc. (SFIX) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SFIX?
Across a 3-year window, the weekly returns of FNGD and SFIX correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.15 versus -0.26 over 3 years. Stretching to 5 years gives -0.36, with an annualized covariance of -1468.0 %².
Within FNGD's tracked universe of 1743 assets, SFIX comes in at #537 by 3-year correlation. The trailing year gives SFIX the advantage: -55.7% versus -43.5%, a 12.2-point spread.
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 SFIX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SFIX (Stitch Fix, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -43.5% |
| 5-year return | -99.4% | -92.6% |
| Volatility (ann.) | 75.7% | 74.6% |
| Beta vs S&P 500 | -4.54 | 1.71 |
| Max drawdown (3Y) | -97.6% | -58.6% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SFIX |
|---|---|---|
| 2022 | +52.2% | -83.6% |
| 2023 | -90.1% | +14.8% |
| 2024 | -76.6% | +20.7% |
| 2025 | -61.4% | +21.8% |
| 2026 | -49.5% | -41.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SFIX good diversifiers for each other?
Yes. With a correlation of -0.26, FNGD and SFIX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SFIX?
As of 2026-08-27, the correlation of weekly returns between FNGD and SFIX is -0.26 over 3 years, -0.15 over 1 year and -0.36 over 5 years.
Is SFIX a good diversifier for FNGD?
Yes. With a correlation of -0.26, FNGD and SFIX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-sfix.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-sfix/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · SFIX correlations
