FNGD vs SITE: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SiteOne Landscape Supply, Inc. (SITE) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SITE?
Across a 3-year window, the weekly returns of FNGD and SITE correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.25). Stretching to 5 years gives -0.42, with an annualized covariance of -708.5 %².
Among the 1743 assets we track against FNGD, SITE ranks #461 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SITE outperformed by 21.5 percentage points (-55.7% for FNGD against -34.2% for SITE). Note the risk asymmetry: FNGD runs 2.0 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 SITE: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SITE (SiteOne Landscape Supply, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -34.2% |
| 5-year return | -99.4% | -52.8% |
| Volatility (ann.) | 75.7% | 37.2% |
| Beta vs S&P 500 | -4.54 | 1.06 |
| Max drawdown (3Y) | -97.6% | -49.5% |
| Market cap | – | $4.2B |
| P/E (trailing) | 20.6 | 26.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SITE |
|---|---|---|
| 2022 | +52.2% | -51.6% |
| 2023 | -90.1% | +38.5% |
| 2024 | -76.6% | -18.9% |
| 2025 | -61.4% | -5.5% |
| 2026 | -49.5% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SITE good diversifiers for each other?
Yes. With a correlation of -0.25, FNGD and SITE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SITE?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.10 over the last year and -0.42 over 5 years.
Is SITE a good diversifier for FNGD?
Yes. With a correlation of -0.25, FNGD and SITE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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-site.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-site/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · SITE correlations
