FNGD vs SKIL: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Skillsoft Corp. (SKIL) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SKIL?
Across a 3-year window, the weekly returns of FNGD and SKIL correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.41 lands near the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -2216.6 %².
Among the 1743 assets we track against FNGD, SKIL ranks #920 by 3-year correlation. Neither side won the trailing year by much: -55.7% against -58.6%.
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 SKIL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SKIL (Skillsoft Corp.) | |
|---|---|---|
| 1-year return | -55.7% | -58.6% |
| 5-year return | -99.4% | -96.5% |
| Volatility (ann.) | 75.7% | 95.0% |
| Beta vs S&P 500 | -4.54 | 2.14 |
| Max drawdown (3Y) | -97.6% | -88.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SKIL |
|---|---|---|
| 2022 | +52.2% | -85.8% |
| 2023 | -90.1% | -32.4% |
| 2024 | -76.6% | +36.3% |
| 2025 | -61.4% | -61.2% |
| 2026 | -49.5% | -28.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SKIL good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and SKIL?
The FNGD/SKIL correlation stands at -0.31 on a 3-year window (1 year: -0.41, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is SKIL a good diversifier for FNGD?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
A reading of -0.31 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-skil.json
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[](https://www.pairbook.io/pair/fngd-vs-skil/)
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Related comparisons
Hubs: FNGD correlations · SKIL correlations
