FNGD vs VST: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vistra Corp. (VST) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VST?
Across a 3-year window, the weekly returns of FNGD and VST correlate at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.41). Stretching to 5 years gives -0.30, with an annualized covariance of -1628.7 %².
Among the 1743 assets we track against FNGD, VST ranks #1402 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VST outperformed by 27.9 percentage points (-55.7% for FNGD against -27.8% for VST).
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 VST: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VST (Vistra Corp.) | |
|---|---|---|
| 1-year return | -55.7% | -27.8% |
| 5-year return | -99.4% | +713.7% |
| Volatility (ann.) | 75.7% | 52.8% |
| Beta vs S&P 500 | -4.54 | 1.62 |
| Max drawdown (3Y) | -97.6% | -48.8% |
| Market cap | – | $46.9B |
| P/E (trailing) | 20.6 | 23.6 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FNGD | VST |
|---|---|---|
| 2022 | +52.2% | +5.1% |
| 2023 | -90.1% | +70.7% |
| 2024 | -76.6% | +261.5% |
| 2025 | -61.4% | +17.7% |
| 2026 | -49.5% | -13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VST good diversifiers for each other?
Yes. With a correlation of -0.41, FNGD and VST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and VST?
As of 2026-08-27, the correlation of weekly returns between FNGD and VST is -0.41 over 3 years, -0.08 over 1 year and -0.30 over 5 years.
Is VST a good diversifier for FNGD?
Yes. With a correlation of -0.41, FNGD and VST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-vst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-vst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · VST correlations
