FNGD vs VZLA: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Vizsla Silver Corp. (VZLA) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and VZLA?
Across a 3-year window, the weekly returns of FNGD and VZLA correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.44) than the 3-year average (-0.26). Stretching to 5 years gives -0.24, with an annualized covariance of -1173.8 %².
Among the 1743 assets we track against FNGD, VZLA ranks #552 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VZLA ahead by 73.9 points (-55.7% versus +18.2%).
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 VZLA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | VZLA (Vizsla Silver Corp.) | |
|---|---|---|
| 1-year return | -55.7% | +18.2% |
| 5-year return | -99.4% | +82.3% |
| Volatility (ann.) | 75.7% | 60.6% |
| Beta vs S&P 500 | -4.54 | 1.23 |
| Max drawdown (3Y) | -97.6% | -56.9% |
| Market cap | – | $1.5B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | VZLA |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | +8.7% |
| 2024 | -76.6% | +36.8% |
| 2025 | -61.4% | +219.9% |
| 2026 | -49.5% | -23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and VZLA good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and VZLA?
The FNGD/VZLA correlation stands at -0.26 on a 3-year window (1 year: -0.44, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VZLA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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.
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Related comparisons
Hubs: FNGD correlations · VZLA correlations
