FNGD vs STM: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and STMicroelectronics N.V. (STM) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and STM?
On 3 years of weekly data the FNGD/STM correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.42 over 3 years. The 5-year figure is -0.50, and annualized covariance runs at -1472.8 %².
Within FNGD's tracked universe of 1743 assets, STM comes in at #1429 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STM outperformed by 146.7 percentage points (-55.7% for FNGD against +91.0% for STM). Risk is not evenly split, since FNGD carries 1.6 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 STM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | STM (STMicroelectronics N.V.) | |
|---|---|---|
| 1-year return | -55.7% | +91.0% |
| 5-year return | -99.4% | +19.4% |
| Volatility (ann.) | 75.7% | 46.5% |
| Beta vs S&P 500 | -4.54 | 1.62 |
| Max drawdown (3Y) | -97.6% | -64.6% |
| Market cap | – | $45.8B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | STM |
|---|---|---|
| 2022 | +52.2% | -26.8% |
| 2023 | -90.1% | +41.7% |
| 2024 | -76.6% | -49.7% |
| 2025 | -61.4% | +5.3% |
| 2026 | -49.5% | +98.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and STM good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and STM?
As of 2026-08-27, the correlation of weekly returns between FNGD and STM is -0.42 over 3 years, -0.30 over 1 year and -0.50 over 5 years.
Is STM a good diversifier for FNGD?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-stm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-stm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · STM correlations
