FNGD vs TAOP: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Taoping Inc. (TAOP) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TAOP?
On 3 years of weekly data the FNGD/TAOP correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is -0.23, and annualized covariance runs at -1539.2 %².
Among the 1743 assets we track against FNGD, TAOP ranks #139 by 3-year correlation. On 12-month performance FNGD holds a 9.1-point edge, -55.7% against -64.8%.
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 TAOP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TAOP (Taoping Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -64.8% |
| 5-year return | -99.4% | -99.9% |
| Volatility (ann.) | 75.7% | 96.5% |
| Beta vs S&P 500 | -4.54 | 1.51 |
| Max drawdown (3Y) | -97.6% | -99.4% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TAOP |
|---|---|---|
| 2022 | +52.2% | -65.6% |
| 2023 | -90.1% | -77.7% |
| 2024 | -76.6% | -71.0% |
| 2025 | -61.4% | -88.9% |
| 2026 | -49.5% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TAOP good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TAOP?
As of 2026-08-27, the correlation of weekly returns between FNGD and TAOP is -0.21 over 3 years, -0.18 over 1 year and -0.23 over 5 years.
Is TAOP a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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.
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Related comparisons
Hubs: FNGD correlations · TAOP correlations
