FNGD vs SYNA: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Synaptics Incorporated (SYNA) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SYNA?
Across a 3-year window, the weekly returns of FNGD and SYNA correlate at -0.47, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.35 versus -0.47 over 3 years. Stretching to 5 years gives -0.54, with an annualized covariance of -1768.4 %².
By 3-year correlation, SYNA places #1542 of the 1743 assets tracked against FNGD. The last year tells two different stories: SYNA led by 93.5 percentage points, -55.7% for FNGD against +37.8% for SYNA. Note the risk asymmetry: FNGD runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SYNA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SYNA (Synaptics Incorporated) | |
|---|---|---|
| 1-year return | -55.7% | +37.8% |
| 5-year return | -99.4% | -48.2% |
| Volatility (ann.) | 75.7% | 49.6% |
| Beta vs S&P 500 | -4.54 | 2.15 |
| Max drawdown (3Y) | -97.6% | -64.2% |
| Market cap | – | $3.8B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SYNA |
|---|---|---|
| 2022 | +52.2% | -67.1% |
| 2023 | -90.1% | +19.9% |
| 2024 | -76.6% | -33.1% |
| 2025 | -61.4% | -3.0% |
| 2026 | -49.5% | +31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SYNA good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and SYNA?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.35 over the last year and -0.54 over 5 years.
Is SYNA a good diversifier for FNGD?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
A reading of -0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · SYNA correlations
