FNGD vs TSLA: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Tesla, Inc. (TSLA) show a negative relationship: their 3-year correlation of weekly returns is -0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TSLA?
Across a 3-year window, the weekly returns of FNGD and TSLA correlate at -0.53, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.54) sits close to the 3-year figure. Stretching to 5 years gives -0.59, with an annualized covariance of -2164.1 %².
By 3-year correlation, TSLA places #1629 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with TSLA ahead by 57.2 points (-55.7% versus +1.5%).
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 TSLA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TSLA (Tesla, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +1.5% |
| 5-year return | -99.4% | +45.6% |
| Volatility (ann.) | 75.7% | 53.9% |
| Beta vs S&P 500 | -4.54 | 1.87 |
| Max drawdown (3Y) | -97.6% | -53.8% |
| Market cap | – | $1,401.3B |
| P/E (trailing) | 20.6 | 322.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | TSLA |
|---|---|---|
| 2022 | +52.2% | -65.0% |
| 2023 | -90.1% | +101.7% |
| 2024 | -76.6% | +62.5% |
| 2025 | -61.4% | +11.4% |
| 2026 | -49.5% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TSLA good diversifiers for each other?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TSLA?
As of 2026-08-27, the correlation of weekly returns between FNGD and TSLA is -0.53 over 3 years, -0.54 over 1 year and -0.59 over 5 years.
Is TSLA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
What does a correlation of -0.53 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
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Related comparisons
Hubs: FNGD correlations · TSLA correlations
