FNGD vs SPT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Sprout Social, Inc (SPT) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SPT?
On 3 years of weekly data the FNGD/SPT correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.35 over 3. The 5-year figure is -0.49, and annualized covariance runs at -1469.5 %².
Among the 1743 assets we track against FNGD, SPT ranks #1160 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPT ahead by 26.1 points (-55.7% versus -29.6%).
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 SPT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SPT (Sprout Social, Inc) | |
|---|---|---|
| 1-year return | -55.7% | -29.6% |
| 5-year return | -99.4% | -91.0% |
| Volatility (ann.) | 75.7% | 55.5% |
| Beta vs S&P 500 | -4.54 | 1.43 |
| Max drawdown (3Y) | -97.6% | -92.5% |
| Market cap | – | $0.7B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SPT |
|---|---|---|
| 2022 | +52.2% | -37.7% |
| 2023 | -90.1% | +8.8% |
| 2024 | -76.6% | -50.0% |
| 2025 | -61.4% | -63.3% |
| 2026 | -49.5% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SPT good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SPT?
The FNGD/SPT correlation stands at -0.35 on a 3-year window (1 year: -0.34, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is SPT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 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.
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Related comparisons
Hubs: FNGD correlations · SPT correlations
