FNGD vs ST: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Sensata Technologies Holding plc (ST) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ST?
Over the past 3 years, FNGD and ST moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.33 over 3 years. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -902.0 %².
Among the 1743 assets we track against FNGD, ST ranks #1056 by 3-year correlation. The last year tells two different stories: ST led by 84.0 percentage points, -55.7% for FNGD against +28.3% for ST. Note the risk asymmetry: FNGD runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ST: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ST (Sensata Technologies Holding plc) | |
|---|---|---|
| 1-year return | -55.7% | +28.3% |
| 5-year return | -99.4% | -25.4% |
| Volatility (ann.) | 75.7% | 36.0% |
| Beta vs S&P 500 | -4.54 | 1.30 |
| Max drawdown (3Y) | -97.6% | -58.4% |
| Market cap | – | $6.2B |
| P/E (trailing) | 20.6 | 68.5 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ST |
|---|---|---|
| 2022 | +52.2% | -34.0% |
| 2023 | -90.1% | -5.9% |
| 2024 | -76.6% | -26.1% |
| 2025 | -61.4% | +23.5% |
| 2026 | -49.5% | +28.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ST good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and ST?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.21 over the last year and -0.42 over 5 years.
Is ST a good diversifier for FNGD?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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-st.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-st/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · ST correlations
