FNGD vs STX: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Seagate Technology (STX) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and STX?
On 3 years of weekly data the FNGD/STX correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.36 lands near the 3-year figure. The 5-year figure is -0.48, and annualized covariance runs at -1683.1 %².
Within FNGD's tracked universe of 1743 assets, STX comes in at #1465 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STX outperformed by 466.5 percentage points (-55.7% for FNGD against +410.8% for STX).
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 STX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | -55.7% | +410.8% |
| 5-year return | -99.4% | +1032.5% |
| Volatility (ann.) | 75.7% | 51.3% |
| Beta vs S&P 500 | -4.54 | 1.97 |
| Max drawdown (3Y) | -97.6% | -40.0% |
| Market cap | – | $192.0B |
| P/E (trailing) | 20.6 | 61.0 |
| Dividend yield | 0.00% | 0.35% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGD | STX |
|---|---|---|
| 2022 | +52.2% | -51.4% |
| 2023 | -90.1% | +69.1% |
| 2024 | -76.6% | +4.1% |
| 2025 | -61.4% | +225.3% |
| 2026 | -49.5% | +208.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and STX good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and STX?
As of 2026-08-27, the correlation of weekly returns between FNGD and STX is -0.43 over 3 years, -0.36 over 1 year and -0.48 over 5 years.
Is STX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · STX correlations
