FNGD vs VSEC: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and VSE Corporation (VSEC) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VSEC?
On 3 years of weekly data the FNGD/VSEC correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. The 5-year figure is -0.42, and annualized covariance runs at -1314.7 %².
By 3-year correlation, VSEC places #1337 of the 1743 assets tracked against FNGD. The last year tells two different stories: VSEC led by 89.9 percentage points, -55.7% for FNGD against +34.2% for VSEC. Note the risk asymmetry: FNGD runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VSEC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VSEC (VSE Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +34.2% |
| 5-year return | -99.4% | +365.5% |
| Volatility (ann.) | 75.7% | 44.9% |
| Beta vs S&P 500 | -4.54 | 1.52 |
| Max drawdown (3Y) | -97.6% | -30.3% |
| Market cap | – | $6.2B |
| P/E (trailing) | 20.6 | 72.5 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VSEC |
|---|---|---|
| 2022 | +52.2% | -22.4% |
| 2023 | -90.1% | +38.9% |
| 2024 | -76.6% | +47.9% |
| 2025 | -61.4% | +82.3% |
| 2026 | -49.5% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VSEC good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and VSEC?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.45 over the last year and -0.42 over 5 years.
Is VSEC a good diversifier for FNGD?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-vsec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-vsec/)
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Related comparisons
Hubs: FNGD correlations · VSEC correlations
