FNGD vs WEYS: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Weyco Group, Inc. (WEYS) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and WEYS?
Across a 3-year window, the weekly returns of FNGD and WEYS correlate at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -781.7 %².
By 3-year correlation, WEYS places #810 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months WEYS outperformed by 115.4 percentage points (-55.7% for FNGD against +59.7% for WEYS). One caveat on sizing: FNGD is 2.1 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 WEYS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WEYS (Weyco Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +59.7% |
| 5-year return | -99.4% | +157.8% |
| Volatility (ann.) | 75.7% | 35.3% |
| Beta vs S&P 500 | -4.54 | 1.01 |
| Max drawdown (3Y) | -97.6% | -29.0% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 12.5 |
| Dividend yield | 0.00% | 2.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | WEYS |
|---|---|---|
| 2022 | +52.2% | -8.3% |
| 2023 | -90.1% | +54.0% |
| 2024 | -76.6% | +30.4% |
| 2025 | -61.4% | -10.5% |
| 2026 | -49.5% | +49.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WEYS good diversifiers for each other?
Yes. With a correlation of -0.29, FNGD and WEYS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and WEYS?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.27 over the last year and -0.30 over 5 years.
Is WEYS a good diversifier for FNGD?
Yes. With a correlation of -0.29, FNGD and WEYS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-weys.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-weys/)
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Related comparisons
Hubs: FNGD correlations · WEYS correlations
