FNGD vs SLSR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Solaris Resources Inc. (SLSR) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SLSR?
Across a 3-year window, the weekly returns of FNGD and SLSR correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.28, with an annualized covariance of -1337.3 %².
Within FNGD's tracked universe of 1743 assets, SLSR comes in at #731 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SLSR ahead by 115.4 points (-55.7% versus +59.7%).
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 SLSR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SLSR (Solaris Resources Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +59.7% |
| 5-year return | -99.4% | -4.4% |
| Volatility (ann.) | 75.7% | 63.0% |
| Beta vs S&P 500 | -4.54 | 1.40 |
| Max drawdown (3Y) | -97.6% | -56.9% |
| Market cap | – | $1.5B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SLSR |
|---|---|---|
| 2022 | +52.2% | -65.7% |
| 2023 | -90.1% | -33.7% |
| 2024 | -76.6% | +1.8% |
| 2025 | -61.4% | +156.7% |
| 2026 | -49.5% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SLSR good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SLSR?
As of 2026-08-27, the correlation of weekly returns between FNGD and SLSR is -0.28 over 3 years, -0.22 over 1 year and -0.28 over 5 years.
Is SLSR a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-slsr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-slsr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · SLSR correlations
