FNGD vs UIS: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Unisys Corporation New (UIS) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and UIS?
On 3 years of weekly data the FNGD/UIS correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.55) runs below the 3-year figure (-0.36). The 5-year figure is -0.27, and annualized covariance runs at -2179.0 %².
Within FNGD's tracked universe of 1743 assets, UIS comes in at #1207 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UIS ahead by 24.9 points (-55.7% versus -30.8%).
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 UIS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | UIS (Unisys Corporation New) | |
|---|---|---|
| 1-year return | -55.7% | -30.8% |
| 5-year return | -99.4% | -88.7% |
| Volatility (ann.) | 75.7% | 80.0% |
| Beta vs S&P 500 | -4.54 | 2.01 |
| Max drawdown (3Y) | -97.6% | -77.6% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | UIS |
|---|---|---|
| 2022 | +52.2% | -75.2% |
| 2023 | -90.1% | +10.0% |
| 2024 | -76.6% | +12.6% |
| 2025 | -61.4% | -56.4% |
| 2026 | -49.5% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and UIS good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and UIS?
As of 2026-08-27, the correlation of weekly returns between FNGD and UIS is -0.36 over 3 years, -0.55 over 1 year and -0.27 over 5 years.
Is UIS a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 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-uis.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-uis/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · UIS correlations
