FNGD vs VNQ: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vanguard Real Estate ETF (VNQ) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VNQ?
On 3 years of weekly data the FNGD/VNQ correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.03) than the 3-year average (-0.20). The 5-year figure is -0.39, and annualized covariance runs at -248.0 %².
By 3-year correlation, VNQ places #98 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months VNQ outperformed by 66.0 percentage points (-55.7% for FNGD against +10.3% for VNQ). One caveat on sizing: FNGD is 4.6 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 VNQ: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -55.7% | +10.3% |
| 5-year return | -99.4% | +9.5% |
| Volatility (ann.) | 75.7% | 16.6% |
| Beta vs S&P 500 | -4.54 | 0.59 |
| Max drawdown (3Y) | -97.6% | -17.5% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | FNGD | VNQ |
|---|---|---|
| 2022 | +52.2% | -26.3% |
| 2023 | -90.1% | +11.9% |
| 2024 | -76.6% | +4.8% |
| 2025 | -61.4% | +3.2% |
| 2026 | -49.5% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VNQ good diversifiers for each other?
Yes. With a correlation of -0.20, FNGD and VNQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and VNQ?
As of 2026-08-27, the correlation of weekly returns between FNGD and VNQ is -0.20 over 3 years, 0.03 over 1 year and -0.39 over 5 years.
Is VNQ a good diversifier for FNGD?
Yes. With a correlation of -0.20, FNGD and VNQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-vnq/)
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Related comparisons
Hubs: FNGD correlations · VNQ correlations
