FNGD vs WCC: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and WESCO International, Inc. (WCC) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and WCC?
Over the past 3 years, FNGD and WCC moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.30) than the 3-year average (-0.44). Over 5 years the correlation is -0.48, and the annualized covariance of weekly returns is -1289.0 %².
Among the 1743 assets we track against FNGD, WCC ranks #1489 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WCC ahead by 111.1 points (-55.7% versus +55.4%). Risk is not evenly split, since FNGD carries 2.0 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 WCC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WCC (WESCO International, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +55.4% |
| 5-year return | -99.4% | +203.7% |
| Volatility (ann.) | 75.7% | 38.3% |
| Beta vs S&P 500 | -4.54 | 1.59 |
| Max drawdown (3Y) | -97.6% | -37.4% |
| Market cap | – | $17.1B |
| P/E (trailing) | 20.6 | 24.0 |
| Dividend yield | 0.00% | 0.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | WCC |
|---|---|---|
| 2022 | +52.2% | -4.9% |
| 2023 | -90.1% | +40.2% |
| 2024 | -76.6% | +5.1% |
| 2025 | -61.4% | +36.4% |
| 2026 | -49.5% | +43.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WCC good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and WCC?
The FNGD/WCC correlation stands at -0.44 on a 3-year window (1 year: -0.30, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is WCC a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · WCC correlations
