FNGD vs VTV: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vanguard Value ETF (VTV) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VTV?
Across a 3-year window, the weekly returns of FNGD and VTV correlate at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.45). Stretching to 5 years gives -0.51, with an annualized covariance of -402.6 %².
By 3-year correlation, VTV places #1507 of the 1743 assets tracked against FNGD. The last year tells two different stories: VTV led by 81.4 percentage points, -55.7% for FNGD against +25.7% for VTV. Risk is not evenly split, since FNGD carries 6.4 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 VTV: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | -55.7% | +25.7% |
| 5-year return | -99.4% | +79.1% |
| Volatility (ann.) | 75.7% | 11.9% |
| Beta vs S&P 500 | -4.54 | 0.65 |
| Max drawdown (3Y) | -97.6% | -14.5% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | US Listed | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | FNGD | VTV |
|---|---|---|
| 2022 | +52.2% | -2.1% |
| 2023 | -90.1% | +9.3% |
| 2024 | -76.6% | +16.0% |
| 2025 | -61.4% | +15.3% |
| 2026 | -49.5% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VTV good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and VTV?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with -0.16 over the last year and -0.51 over 5 years.
Is VTV a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
A reading of -0.45 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 · VTV correlations
