FNGD vs VIK: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Viking Holdings Ltd (VIK) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VIK?
Across a 3-year window, the weekly returns of FNGD and VIK correlate at -0.41, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.41 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1062.0 %².
Within FNGD's tracked universe of 1743 assets, VIK comes in at #1401 by 3-year correlation. The last year tells two different stories: VIK led by 98.4 percentage points, -55.7% for FNGD against +42.7% for VIK. Risk is not evenly split, since FNGD carries 2.3 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 VIK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VIK (Viking Holdings Ltd) | |
|---|---|---|
| 1-year return | -55.7% | +42.7% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 33.6% |
| Beta vs S&P 500 | -4.54 | 1.31 |
| Max drawdown (3Y) | -97.6% | -35.4% |
| Market cap | – | $40.1B |
| P/E (trailing) | 20.6 | 30.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VIK |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | – |
| 2024 | -76.6% | – |
| 2025 | -61.4% | +62.1% |
| 2026 | -49.5% | +25.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VIK good diversifiers for each other?
Yes. With a correlation of -0.41, FNGD and VIK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and VIK?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.20 over the last year and n/a over 5 years.
Is VIK a good diversifier for FNGD?
Yes. With a correlation of -0.41, FNGD and VIK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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-vik.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-vik/)
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Related comparisons
Hubs: FNGD correlations · VIK correlations
