FNGD vs SKIN: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SkinHealth Systems Inc. (SKIN) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SKIN?
Over the past 3 years, FNGD and SKIN moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -1849.4 %².
Within FNGD's tracked universe of 1743 assets, SKIN comes in at #632 by 3-year correlation. The trailing year gives FNGD the advantage: -55.7% versus -66.3%, a 10.6-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 SKIN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SKIN (SkinHealth Systems Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -66.3% |
| 5-year return | -99.4% | -97.2% |
| Volatility (ann.) | 75.7% | 91.5% |
| Beta vs S&P 500 | -4.54 | 1.76 |
| Max drawdown (3Y) | -97.6% | -91.4% |
| 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 | SKIN |
|---|---|---|
| 2022 | +52.2% | -62.3% |
| 2023 | -90.1% | -65.8% |
| 2024 | -76.6% | -48.9% |
| 2025 | -61.4% | -12.6% |
| 2026 | -49.5% | -50.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SKIN good diversifiers for each other?
Yes. With a correlation of -0.27, FNGD and SKIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SKIN?
As of 2026-08-27, the correlation of weekly returns between FNGD and SKIN is -0.27 over 3 years, -0.37 over 1 year and -0.33 over 5 years.
Is SKIN a good diversifier for FNGD?
Yes. With a correlation of -0.27, FNGD and SKIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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-skin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-skin/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SKIN correlations
