FNGD vs STLA: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Stellantis N.V. (STLA) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and STLA?
Over the past 3 years, FNGD and STLA moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -1058.3 %².
Within FNGD's tracked universe of 1743 assets, STLA comes in at #924 by 3-year correlation. The trailing year gives STLA the advantage: -55.7% versus -44.5%, a 11.2-point spread. One caveat on sizing: FNGD is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 STLA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | STLA (Stellantis N.V.) | |
|---|---|---|
| 1-year return | -55.7% | -44.5% |
| 5-year return | -99.4% | -63.8% |
| Volatility (ann.) | 75.7% | 44.7% |
| Beta vs S&P 500 | -4.54 | 1.33 |
| Max drawdown (3Y) | -97.6% | -80.0% |
| Market cap | – | $19.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | STLA |
|---|---|---|
| 2022 | +52.2% | -18.2% |
| 2023 | -90.1% | +79.2% |
| 2024 | -76.6% | -40.2% |
| 2025 | -61.4% | -9.2% |
| 2026 | -49.5% | -51.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and STLA good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and STLA?
The FNGD/STLA correlation stands at -0.31 on a 3-year window (1 year: -0.35, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is STLA a good diversifier for FNGD?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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-stla.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-stla/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · STLA correlations
