FNGD vs V: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Visa Inc. (V) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and V?
Over the past 3 years, FNGD and V moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.41 over 3 years. Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -587.0 %².
Among the 1743 assets we track against FNGD, V ranks #1400 by 3-year correlation. Correlation aside, the last 12 months split them widely, with V ahead by 64.9 points (-55.7% versus +9.2%). Risk is not evenly split, since FNGD carries 4.0 times the volatility of the other side.
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 V: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | V (Visa Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +9.2% |
| 5-year return | -99.4% | +70.5% |
| Volatility (ann.) | 75.7% | 19.1% |
| Beta vs S&P 500 | -4.54 | 0.72 |
| Max drawdown (3Y) | -97.6% | -20.4% |
| Market cap | – | $708.8B |
| P/E (trailing) | 20.6 | 32.7 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FNGD | V |
|---|---|---|
| 2022 | +52.2% | -3.4% |
| 2023 | -90.1% | +26.3% |
| 2024 | -76.6% | +22.3% |
| 2025 | -61.4% | +11.8% |
| 2026 | -49.5% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and V good diversifiers for each other?
Yes. With a correlation of -0.41, FNGD and V have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and V?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.16 over the last year and -0.45 over 5 years.
Is V a good diversifier for FNGD?
Yes. With a correlation of -0.41, FNGD and V have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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-v.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-v/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · V correlations
