FNGD vs WIX: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Wix.com Ltd. (WIX) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and WIX?
Across a 3-year window, the weekly returns of FNGD and WIX correlate at -0.32, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -1398.0 %².
By 3-year correlation, WIX places #998 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with WIX ahead by 18.6 points (-55.7% versus -37.1%).
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 WIX: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WIX (Wix.com Ltd.) | |
|---|---|---|
| 1-year return | -55.7% | -37.1% |
| 5-year return | -99.4% | -61.8% |
| Volatility (ann.) | 75.7% | 58.2% |
| Beta vs S&P 500 | -4.54 | 1.22 |
| Max drawdown (3Y) | -97.6% | -83.6% |
| Market cap | – | $3.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | WIX |
|---|---|---|
| 2022 | +52.2% | -51.3% |
| 2023 | -90.1% | +60.1% |
| 2024 | -76.6% | +74.4% |
| 2025 | -61.4% | -51.6% |
| 2026 | -49.5% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WIX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and WIX?
As of 2026-08-27, the correlation of weekly returns between FNGD and WIX is -0.32 over 3 years, -0.26 over 1 year and -0.43 over 5 years.
Is WIX a good diversifier for FNGD?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-wix.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-wix/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · WIX correlations
