FNGD vs VTEX: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and VTEX Class A (VTEX) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VTEX?
On 3 years of weekly data the FNGD/VTEX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -910.6 %².
By 3-year correlation, VTEX places #646 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months VTEX outperformed by 43.3 percentage points (-55.7% for FNGD against -12.4% for VTEX). Risk is not evenly split, since FNGD carries 1.7 times the volatility of the other side.
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 VTEX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VTEX (VTEX Class A) | |
|---|---|---|
| 1-year return | -55.7% | -12.4% |
| 5-year return | -99.4% | -86.1% |
| Volatility (ann.) | 75.7% | 44.3% |
| Beta vs S&P 500 | -4.54 | 0.67 |
| Max drawdown (3Y) | -97.6% | -69.5% |
| Market cap | – | $0.6B |
| P/E (trailing) | 20.6 | 22.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VTEX |
|---|---|---|
| 2022 | +52.2% | -65.0% |
| 2023 | -90.1% | +83.5% |
| 2024 | -76.6% | -14.4% |
| 2025 | -61.4% | -36.2% |
| 2026 | -49.5% | -6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VTEX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and VTEX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.25 over the last year and -0.39 over 5 years.
Is VTEX a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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-vtex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-vtex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · VTEX correlations
