FNGD vs VERX: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vertex, Inc. (VERX) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VERX?
Over the past 3 years, FNGD and VERX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.29 over 3. Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -1177.1 %².
Among the 1743 assets we track against FNGD, VERX ranks #807 by 3-year correlation. On 12-month performance VERX holds a 12.3-point edge, -55.7% against -43.4%.
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 VERX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VERX (Vertex, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -43.4% |
| 5-year return | -99.4% | -33.8% |
| Volatility (ann.) | 75.7% | 53.5% |
| Beta vs S&P 500 | -4.54 | 0.99 |
| Max drawdown (3Y) | -97.6% | -82.1% |
| Market cap | – | $2.3B |
| P/E (trailing) | 20.6 | 715.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VERX |
|---|---|---|
| 2022 | +52.2% | -8.6% |
| 2023 | -90.1% | +85.7% |
| 2024 | -76.6% | +98.0% |
| 2025 | -61.4% | -62.6% |
| 2026 | -49.5% | -28.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VERX good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and VERX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.32 over the last year and -0.34 over 5 years.
Is VERX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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.
Use this data
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Related comparisons
Hubs: FNGD correlations · VERX correlations
