FNGD vs VINP: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vinci Compass Investments Ltd. - Class A (VINP) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VINP?
On 3 years of weekly data the FNGD/VINP correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. The 5-year figure is -0.36, and annualized covariance runs at -627.6 %².
Among the 1743 assets we track against FNGD, VINP ranks #1114 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VINP ahead by 57.3 points (-55.7% versus +1.6%). One caveat on sizing: FNGD is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VINP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VINP (Vinci Compass Investments Ltd. - Class A) | |
|---|---|---|
| 1-year return | -55.7% | +1.6% |
| 5-year return | -99.4% | -3.1% |
| Volatility (ann.) | 75.7% | 24.6% |
| Beta vs S&P 500 | -4.54 | 0.76 |
| Max drawdown (3Y) | -97.6% | -28.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | 20.6 | 13.9 |
| Dividend yield | 0.00% | 37.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VINP |
|---|---|---|
| 2022 | +52.2% | -9.3% |
| 2023 | -90.1% | +30.5% |
| 2024 | -76.6% | -1.9% |
| 2025 | -61.4% | +37.4% |
| 2026 | -49.5% | -22.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VINP good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and VINP?
The FNGD/VINP correlation stands at -0.34 on a 3-year window (1 year: -0.35, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VINP a good diversifier for FNGD?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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 · VINP correlations
