FNGD vs TEAM: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Atlassian Corporation (TEAM) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TEAM?
Over the past 3 years, FNGD and TEAM moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.55 over 1 year against -0.47 over 3. Over 5 years the correlation is -0.55, and the annualized covariance of weekly returns is -2177.6 %².
Within FNGD's tracked universe of 1743 assets, TEAM comes in at #1544 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TEAM outperformed by 63.7 percentage points (-55.7% for FNGD against +8.0% for TEAM).
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 TEAM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +8.0% |
| 5-year return | -99.4% | -49.3% |
| Volatility (ann.) | 75.7% | 61.5% |
| Beta vs S&P 500 | -4.54 | 1.66 |
| Max drawdown (3Y) | -97.6% | -82.3% |
| Market cap | – | $47.0B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TEAM |
|---|---|---|
| 2022 | +52.2% | -66.3% |
| 2023 | -90.1% | +84.8% |
| 2024 | -76.6% | +2.3% |
| 2025 | -61.4% | -33.4% |
| 2026 | -49.5% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TEAM good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TEAM?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.55 over the last year and -0.55 over 5 years.
Is TEAM a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
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 · TEAM correlations
