FNGD vs VYX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and NCR Voyix Corporation (VYX) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VYX?
Over the past 3 years, FNGD and VYX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.31 over 3. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -1137.8 %².
Among the 1743 assets we track against FNGD, VYX ranks #932 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VYX outperformed by 23.4 percentage points (-55.7% for FNGD against -32.3% for VYX). One caveat on sizing: FNGD is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VYX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VYX (NCR Voyix Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -32.3% |
| 5-year return | -99.4% | -65.3% |
| Volatility (ann.) | 75.7% | 47.7% |
| Beta vs S&P 500 | -4.54 | 1.47 |
| Max drawdown (3Y) | -97.6% | -67.4% |
| Market cap | – | $1.3B |
| P/E (trailing) | 20.6 | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VYX |
|---|---|---|
| 2022 | +52.2% | -41.8% |
| 2023 | -90.1% | +17.7% |
| 2024 | -76.6% | -18.2% |
| 2025 | -61.4% | -26.3% |
| 2026 | -49.5% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VYX good diversifiers for each other?
Yes. With a correlation of -0.31, FNGD and VYX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and VYX?
As of 2026-08-27, the correlation of weekly returns between FNGD and VYX is -0.31 over 3 years, -0.34 over 1 year and -0.39 over 5 years.
Is VYX a good diversifier for FNGD?
Yes. With a correlation of -0.31, FNGD and VYX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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.
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Related comparisons
Hubs: FNGD correlations · VYX correlations
