FNGD vs SLP: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Simulations Plus, Inc. (SLP) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SLP?
Across a 3-year window, the weekly returns of FNGD and SLP correlate at -0.33, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.33). Stretching to 5 years gives -0.42, with an annualized covariance of -1412.6 %².
Within FNGD's tracked universe of 1743 assets, SLP comes in at #1054 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SLP outperformed by 84.0 percentage points (-55.7% for FNGD against +28.3% for SLP).
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 SLP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SLP (Simulations Plus, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +28.3% |
| 5-year return | -99.4% | -58.0% |
| Volatility (ann.) | 75.7% | 55.9% |
| Beta vs S&P 500 | -4.54 | 1.34 |
| Max drawdown (3Y) | -97.6% | -77.7% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 46.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SLP |
|---|---|---|
| 2022 | +52.2% | -22.3% |
| 2023 | -90.1% | +23.1% |
| 2024 | -76.6% | -37.4% |
| 2025 | -61.4% | -34.6% |
| 2026 | -49.5% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SLP good diversifiers for each other?
Yes. With a correlation of -0.33, FNGD and SLP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SLP?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.46 over the last year and -0.42 over 5 years.
Is SLP a good diversifier for FNGD?
Yes. With a correlation of -0.33, FNGD and SLP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 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-slp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-slp/)
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Related comparisons
Hubs: FNGD correlations · SLP correlations
