FNGD vs UBS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and UBS Group AG Registered (UBS) trade together? Their weekly returns over three years give a correlation of -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and UBS?
On 3 years of weekly data the FNGD/UBS correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. The 5-year figure is -0.46, and annualized covariance runs at -963.5 %².
Within FNGD's tracked universe of 1743 assets, UBS comes in at #1523 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UBS ahead by 94.6 points (-55.7% versus +38.9%). Note the risk asymmetry: FNGD runs 2.7 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 UBS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | UBS (UBS Group AG Registered) | |
|---|---|---|
| 1-year return | -55.7% | +38.9% |
| 5-year return | -99.4% | +273.9% |
| Volatility (ann.) | 75.7% | 27.9% |
| Beta vs S&P 500 | -4.54 | 1.28 |
| Max drawdown (3Y) | -97.6% | -27.0% |
| Market cap | – | $166.4B |
| P/E (trailing) | 20.6 | 18.6 |
| Dividend yield | 0.00% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | UBS |
|---|---|---|
| 2022 | +52.2% | +7.4% |
| 2023 | -90.1% | +69.9% |
| 2024 | -76.6% | +0.7% |
| 2025 | -61.4% | +57.7% |
| 2026 | -49.5% | +20.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and UBS good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and UBS?
As of 2026-08-27, the correlation of weekly returns between FNGD and UBS is -0.46 over 3 years, -0.45 over 1 year and -0.46 over 5 years.
Is UBS a good diversifier for FNGD?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 mean?
A reading of -0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-ubs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-ubs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · UBS correlations
