FNGD vs VCTR: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Victory Capital Holdings, Inc. (VCTR) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VCTR?
Over the past 3 years, FNGD and VCTR moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -907.7 %².
Within FNGD's tracked universe of 1743 assets, VCTR comes in at #1336 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VCTR outperformed by 129.8 percentage points (-55.7% for FNGD against +74.1% for VCTR). Risk is not evenly split, since FNGD carries 2.4 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 VCTR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VCTR (Victory Capital Holdings, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +74.1% |
| 5-year return | -99.4% | +309.1% |
| Volatility (ann.) | 75.7% | 30.9% |
| Beta vs S&P 500 | -4.54 | 1.15 |
| Max drawdown (3Y) | -97.6% | -28.1% |
| Market cap | – | $7.5B |
| P/E (trailing) | 20.6 | 21.9 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VCTR |
|---|---|---|
| 2022 | +52.2% | -23.9% |
| 2023 | -90.1% | +33.5% |
| 2024 | -76.6% | +95.9% |
| 2025 | -61.4% | -0.8% |
| 2026 | -49.5% | +94.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VCTR good diversifiers for each other?
Yes. With a correlation of -0.39, FNGD and VCTR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and VCTR?
As of 2026-08-27, the correlation of weekly returns between FNGD and VCTR is -0.39 over 3 years, -0.32 over 1 year and -0.40 over 5 years.
Is VCTR a good diversifier for FNGD?
Yes. With a correlation of -0.39, FNGD and VCTR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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-vctr.json
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[](https://www.pairbook.io/pair/fngd-vs-vctr/)
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Related comparisons
Hubs: FNGD correlations · VCTR correlations
