FNGD vs WH: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Wyndham Hotels & Resorts, Inc. (WH) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and WH?
Over the past 3 years, FNGD and WH moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.24 over 3 years. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -469.4 %².
Among the 1743 assets we track against FNGD, WH ranks #379 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WH outperformed by 44.1 percentage points (-55.7% for FNGD against -11.6% for WH). Risk is not evenly split, since FNGD carries 2.9 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 WH: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WH (Wyndham Hotels & Resorts, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -11.6% |
| 5-year return | -99.4% | +15.6% |
| Volatility (ann.) | 75.7% | 25.8% |
| Beta vs S&P 500 | -4.54 | 0.72 |
| Max drawdown (3Y) | -97.6% | -37.2% |
| Market cap | – | $5.7B |
| P/E (trailing) | 20.6 | 27.8 |
| Dividend yield | 0.00% | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | WH |
|---|---|---|
| 2022 | +52.2% | -19.1% |
| 2023 | -90.1% | +14.9% |
| 2024 | -76.6% | +27.7% |
| 2025 | -61.4% | -23.5% |
| 2026 | -49.5% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WH good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and WH?
As of 2026-08-27, the correlation of weekly returns between FNGD and WH is -0.24 over 3 years, 0.04 over 1 year and -0.32 over 5 years.
Is WH a good diversifier for FNGD?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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-wh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-wh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · WH correlations
