FNGD vs UFPT: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and UFP Technologies, Inc. (UFPT) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and UFPT?
Over the past 3 years, FNGD and UFPT moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.17) than the 3-year average (-0.29). Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -1117.9 %².
By 3-year correlation, UFPT places #804 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months UFPT outperformed by 95.5 percentage points (-55.7% for FNGD against +39.8% for UFPT).
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 UFPT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | UFPT (UFP Technologies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +39.8% |
| 5-year return | -99.4% | +340.3% |
| Volatility (ann.) | 75.7% | 51.7% |
| Beta vs S&P 500 | -4.54 | 1.34 |
| Max drawdown (3Y) | -97.6% | -48.3% |
| Market cap | – | $2.3B |
| P/E (trailing) | 20.6 | 32.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | UFPT |
|---|---|---|
| 2022 | +52.2% | +67.8% |
| 2023 | -90.1% | +45.9% |
| 2024 | -76.6% | +42.1% |
| 2025 | -61.4% | -9.2% |
| 2026 | -49.5% | +35.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and UFPT good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and UFPT?
The FNGD/UFPT correlation stands at -0.29 on a 3-year window (1 year: -0.17, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is UFPT a good diversifier for FNGD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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-ufpt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ufpt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · UFPT correlations
