FNGD vs VIP: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vulcan Infrastructure and Power Inc. (VIP) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VIP?
Over the past 3 years, FNGD and VIP moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -2186.9 %².
By 3-year correlation, VIP places #551 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months VIP outperformed by 92.3 percentage points (-55.7% for FNGD against +36.6% for VIP).
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 VIP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VIP (Vulcan Infrastructure and Power Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +36.6% |
| 5-year return | -99.4% | -99.9% |
| Volatility (ann.) | 75.7% | 110.7% |
| Beta vs S&P 500 | -4.54 | 1.74 |
| Max drawdown (3Y) | -97.6% | -92.8% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 14.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VIP |
|---|---|---|
| 2022 | +52.2% | -98.2% |
| 2023 | -90.1% | +131.4% |
| 2024 | -76.6% | -76.9% |
| 2025 | -61.4% | -4.5% |
| 2026 | -49.5% | +20.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VIP good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and VIP?
The FNGD/VIP correlation stands at -0.26 on a 3-year window (1 year: -0.23, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VIP a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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 · VIP correlations
