FNGD vs TREE: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and LendingTree, Inc. (TREE) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TREE?
Over the past 3 years, FNGD and TREE moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.28 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -1606.9 %².
By 3-year correlation, TREE places #738 of the 1743 assets tracked against FNGD. Their 12-month results are close: -55.7% for FNGD against -58.2% for TREE.
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 TREE: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TREE (LendingTree, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -58.2% |
| 5-year return | -99.4% | -83.0% |
| Volatility (ann.) | 75.7% | 76.1% |
| Beta vs S&P 500 | -4.54 | 1.99 |
| Max drawdown (3Y) | -97.6% | -63.0% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 2.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TREE |
|---|---|---|
| 2022 | +52.2% | -82.6% |
| 2023 | -90.1% | +42.1% |
| 2024 | -76.6% | +27.8% |
| 2025 | -61.4% | +37.0% |
| 2026 | -49.5% | -46.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TREE good diversifiers for each other?
Yes. With a correlation of -0.28, FNGD and TREE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and TREE?
The FNGD/TREE correlation stands at -0.28 on a 3-year window (1 year: -0.39, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is TREE a good diversifier for FNGD?
Yes. With a correlation of -0.28, FNGD and TREE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-tree.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-tree/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · TREE correlations
