FNGD vs WSM: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Williams-Sonoma, Inc. (WSM) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and WSM?
On 3 years of weekly data the FNGD/WSM correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.30). The 5-year figure is -0.41, and annualized covariance runs at -984.4 %².
Within FNGD's tracked universe of 1743 assets, WSM comes in at #874 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WSM ahead by 81.5 points (-55.7% versus +25.8%). One caveat on sizing: FNGD is 1.8 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 WSM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WSM (Williams-Sonoma, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +25.8% |
| 5-year return | -99.4% | +182.0% |
| Volatility (ann.) | 75.7% | 43.0% |
| Beta vs S&P 500 | -4.54 | 1.33 |
| Max drawdown (3Y) | -97.6% | -36.8% |
| Market cap | – | $28.1B |
| P/E (trailing) | 20.6 | 24.4 |
| Dividend yield | 0.00% | 0.56% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | WSM |
|---|---|---|
| 2022 | +52.2% | -30.5% |
| 2023 | -90.1% | +80.2% |
| 2024 | -76.6% | +86.6% |
| 2025 | -61.4% | -2.1% |
| 2026 | -49.5% | +34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WSM good diversifiers for each other?
Yes. With a correlation of -0.30, FNGD and WSM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and WSM?
As of 2026-08-27, the correlation of weekly returns between FNGD and WSM is -0.30 over 3 years, -0.13 over 1 year and -0.41 over 5 years.
Is WSM a good diversifier for FNGD?
Yes. With a correlation of -0.30, FNGD and WSM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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-wsm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-wsm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · WSM correlations
