FNGD vs SWIM: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Latham Group, Inc. (SWIM) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SWIM?
On 3 years of weekly data the FNGD/SWIM correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -1245.2 %².
Within FNGD's tracked universe of 1743 assets, SWIM comes in at #285 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SWIM outperformed by 40.6 percentage points (-55.7% for FNGD against -15.1% for SWIM).
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 SWIM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SWIM (Latham Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -15.1% |
| 5-year return | -99.4% | -68.5% |
| Volatility (ann.) | 75.7% | 72.5% |
| Beta vs S&P 500 | -4.54 | 1.70 |
| Max drawdown (3Y) | -97.6% | -44.5% |
| Market cap | – | $0.8B |
| P/E (trailing) | 20.6 | 139.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SWIM |
|---|---|---|
| 2022 | +52.2% | -87.1% |
| 2023 | -90.1% | -18.3% |
| 2024 | -76.6% | +164.6% |
| 2025 | -61.4% | -8.8% |
| 2026 | -49.5% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SWIM good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SWIM?
As of 2026-08-27, the correlation of weekly returns between FNGD and SWIM is -0.23 over 3 years, -0.32 over 1 year and -0.31 over 5 years.
Is SWIM a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-swim.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-swim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SWIM correlations
