FNGD vs SYF: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Synchrony Financial (SYF) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SYF?
On 3 years of weekly data the FNGD/SYF correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.37). The 5-year figure is -0.40, and annualized covariance runs at -890.0 %².
By 3-year correlation, SYF places #1242 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with SYF ahead by 63.0 points (-55.7% versus +7.3%). One caveat on sizing: FNGD is 2.4 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 SYF: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SYF (Synchrony Financial) | |
|---|---|---|
| 1-year return | -55.7% | +7.3% |
| 5-year return | -99.4% | +81.0% |
| Volatility (ann.) | 75.7% | 31.6% |
| Beta vs S&P 500 | -4.54 | 1.28 |
| Max drawdown (3Y) | -97.6% | -37.7% |
| Market cap | – | $26.0B |
| P/E (trailing) | 20.6 | 8.2 |
| Dividend yield | 0.00% | 1.50% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FNGD | SYF |
|---|---|---|
| 2022 | +52.2% | -27.4% |
| 2023 | -90.1% | +19.8% |
| 2024 | -76.6% | +74.0% |
| 2025 | -61.4% | +30.6% |
| 2026 | -49.5% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SYF good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SYF?
The FNGD/SYF correlation stands at -0.37 on a 3-year window (1 year: -0.23, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is SYF a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 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-syf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-syf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SYF correlations
