FNGD vs VSH: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vishay Intertechnology, Inc. (VSH) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VSH?
Over the past 3 years, FNGD and VSH moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -1358.6 %².
Among the 1743 assets we track against FNGD, VSH ranks #1165 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VSH outperformed by 164.3 percentage points (-55.7% for FNGD against +108.6% for VSH).
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 VSH: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VSH (Vishay Intertechnology, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +108.6% |
| 5-year return | -99.4% | +55.5% |
| Volatility (ann.) | 75.7% | 51.7% |
| Beta vs S&P 500 | -4.54 | 1.86 |
| Max drawdown (3Y) | -97.6% | -60.4% |
| Market cap | – | $4.9B |
| P/E (trailing) | 20.6 | 151.1 |
| Dividend yield | 0.00% | 1.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VSH |
|---|---|---|
| 2022 | +52.2% | +0.7% |
| 2023 | -90.1% | +13.0% |
| 2024 | -76.6% | -27.9% |
| 2025 | -61.4% | -12.2% |
| 2026 | -49.5% | +120.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VSH good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and VSH?
The FNGD/VSH correlation stands at -0.35 on a 3-year window (1 year: -0.33, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VSH a good diversifier for FNGD?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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
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Related comparisons
Hubs: FNGD correlations · VSH correlations
