FNGD vs WPRT: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Westport Fuel Systems Inc (WPRT) 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 WPRT?
On 3 years of weekly data the FNGD/WPRT correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. The 5-year figure is -0.34, and annualized covariance runs at -1032.2 %².
Within FNGD's tracked universe of 1743 assets, WPRT comes in at #556 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WPRT outperformed by 20.2 percentage points (-55.7% for FNGD against -35.5% for WPRT).
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 WPRT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WPRT (Westport Fuel Systems Inc) | |
|---|---|---|
| 1-year return | -55.7% | -35.5% |
| 5-year return | -99.4% | -95.2% |
| Volatility (ann.) | 75.7% | 51.7% |
| Beta vs S&P 500 | -4.54 | 1.44 |
| Max drawdown (3Y) | -97.6% | -80.0% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | WPRT |
|---|---|---|
| 2022 | +52.2% | -67.5% |
| 2023 | -90.1% | -14.0% |
| 2024 | -76.6% | -45.9% |
| 2025 | -61.4% | -56.1% |
| 2026 | -49.5% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WPRT good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and WPRT?
The FNGD/WPRT correlation stands at -0.26 on a 3-year window (1 year: -0.16, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is WPRT a good diversifier for FNGD?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-wprt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-wprt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · WPRT correlations
