FNGD vs VEA: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vanguard FTSE Developed Markets ETF (VEA) show a negative relationship: their 3-year correlation of weekly returns is -0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VEA?
Across a 3-year window, the weekly returns of FNGD and VEA correlate at -0.55, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.49 over 1 year against -0.55 over 3. Stretching to 5 years gives -0.60, with an annualized covariance of -632.0 %².
Among the 1743 assets we track against FNGD, VEA ranks #1649 by 3-year correlation. The last year tells two different stories: VEA led by 84.2 percentage points, -55.7% for FNGD against +28.5% for VEA. Risk is not evenly split, since FNGD carries 5.0 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 VEA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | -55.7% | +28.5% |
| 5-year return | -99.4% | +63.5% |
| Volatility (ann.) | 75.7% | 15.1% |
| Beta vs S&P 500 | -4.54 | 0.79 |
| Max drawdown (3Y) | -97.6% | -13.5% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | FNGD | VEA |
|---|---|---|
| 2022 | +52.2% | -15.3% |
| 2023 | -90.1% | +17.9% |
| 2024 | -76.6% | +3.1% |
| 2025 | -61.4% | +35.2% |
| 2026 | -49.5% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VEA good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and VEA?
As of 2026-08-27, the correlation of weekly returns between FNGD and VEA is -0.55 over 3 years, -0.49 over 1 year and -0.60 over 5 years.
Is VEA a good diversifier for FNGD?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 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-vea.json
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[](https://www.pairbook.io/pair/fngd-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · VEA correlations
