FNGD vs SITM: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SiTime Corporation (SITM) show a negative relationship: their 3-year correlation of weekly returns is -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SITM?
Over the past 3 years, FNGD and SITM moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Over 5 years the correlation is -0.51, and the annualized covariance of weekly returns is -2711.6 %².
Within FNGD's tracked universe of 1743 assets, SITM comes in at #1519 by 3-year correlation. The last year tells two different stories: SITM led by 207.0 percentage points, -55.7% for FNGD against +151.3% for SITM.
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 SITM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SITM (SiTime Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +151.3% |
| 5-year return | -99.4% | +183.2% |
| Volatility (ann.) | 75.7% | 77.7% |
| Beta vs S&P 500 | -4.54 | 2.97 |
| Max drawdown (3Y) | -97.6% | -55.3% |
| Market cap | – | $18.0B |
| P/E (trailing) | 20.6 | 999.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SITM |
|---|---|---|
| 2022 | +52.2% | -65.3% |
| 2023 | -90.1% | +20.1% |
| 2024 | -76.6% | +75.7% |
| 2025 | -61.4% | +64.6% |
| 2026 | -49.5% | +69.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SITM good diversifiers for each other?
Yes. With a correlation of -0.46, FNGD and SITM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SITM?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.41 over the last year and -0.51 over 5 years.
Is SITM a good diversifier for FNGD?
Yes. With a correlation of -0.46, FNGD and SITM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
A reading of -0.46 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-sitm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-sitm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SITM correlations
