FNGD vs VEEA: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Veea Inc. (VEEA) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VEEA?
Across a 3-year window, the weekly returns of FNGD and VEEA correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). Stretching to 5 years gives -0.15, with an annualized covariance of -1506.5 %².
By 3-year correlation, VEEA places #214 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with FNGD ahead by 27.7 points (-55.7% versus -83.4%).
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 VEEA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VEEA (Veea Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -83.4% |
| 5-year return | -99.4% | -99.0% |
| Volatility (ann.) | 75.7% | 89.4% |
| Beta vs S&P 500 | -4.54 | 1.23 |
| Max drawdown (3Y) | -97.6% | -99.2% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VEEA |
|---|---|---|
| 2022 | +52.2% | +3.6% |
| 2023 | -90.1% | +7.6% |
| 2024 | -76.6% | -64.9% |
| 2025 | -61.4% | -83.3% |
| 2026 | -49.5% | -84.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VEEA good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and VEEA?
The FNGD/VEEA correlation stands at -0.22 on a 3-year window (1 year: -0.33, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is VEEA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: FNGD correlations · VEEA correlations
