FNGD vs SOFI: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SoFi Technologies, Inc. (SOFI) carry a correlation of -0.57, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SOFI?
On 3 years of weekly data the FNGD/SOFI correlation comes out at -0.57, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.69) than the 3-year average (-0.57). The 5-year figure is -0.56, and annualized covariance runs at -2423.8 %².
Among the 1743 assets we track against FNGD, SOFI ranks #1659 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SOFI ahead by 32.5 points (-55.7% versus -23.2%).
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 SOFI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SOFI (SoFi Technologies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -23.2% |
| 5-year return | -99.4% | +35.2% |
| Volatility (ann.) | 75.7% | 56.2% |
| Beta vs S&P 500 | -4.54 | 2.40 |
| Max drawdown (3Y) | -97.6% | -53.0% |
| Market cap | – | $24.8B |
| P/E (trailing) | 20.6 | 38.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SOFI |
|---|---|---|
| 2022 | +52.2% | -70.8% |
| 2023 | -90.1% | +115.8% |
| 2024 | -76.6% | +54.8% |
| 2025 | -61.4% | +70.0% |
| 2026 | -49.5% | -26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SOFI good diversifiers for each other?
Yes. With a correlation of -0.57, FNGD and SOFI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SOFI?
Using weekly returns as of 2026-08-27: -0.57 over 3 years, with -0.69 over the last year and -0.56 over 5 years.
Is SOFI a good diversifier for FNGD?
Yes. With a correlation of -0.57, FNGD and SOFI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 mean?
On the −1 to +1 scale, -0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-sofi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-sofi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · SOFI correlations
