FNGD vs SSNC: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SS&C Technologies Holdings, Inc. (SSNC) 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 SSNC?
On 3 years of weekly data the FNGD/SSNC 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 -0.48, and annualized covariance runs at -617.0 %².
By 3-year correlation, SSNC places #1161 of the 1743 assets tracked against FNGD. The last year tells two different stories: SSNC led by 50.3 percentage points, -55.7% for FNGD against -5.4% for SSNC. Risk is not evenly split, since FNGD carries 3.3 times the volatility of the other side.
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 SSNC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SSNC (SS&C Technologies Holdings, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -5.4% |
| 5-year return | -99.4% | +17.5% |
| Volatility (ann.) | 75.7% | 23.0% |
| Beta vs S&P 500 | -4.54 | 0.82 |
| Max drawdown (3Y) | -97.6% | -30.4% |
| Market cap | – | $19.6B |
| P/E (trailing) | 20.6 | 23.8 |
| Dividend yield | 0.00% | 1.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SSNC |
|---|---|---|
| 2022 | +52.2% | -35.7% |
| 2023 | -90.1% | +19.2% |
| 2024 | -76.6% | +25.8% |
| 2025 | -61.4% | +16.8% |
| 2026 | -49.5% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SSNC good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and SSNC?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.34 over the last year and -0.48 over 5 years.
Is SSNC a good diversifier for FNGD?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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-ssnc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-ssnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · SSNC correlations
