FNGD vs WWW: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Wolverine World Wide, Inc. (WWW) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and WWW?
On 3 years of weekly data the FNGD/WWW correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -1073.5 %².
Within FNGD's tracked universe of 1743 assets, WWW comes in at #470 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WWW ahead by 19.3 points (-55.7% versus -36.4%).
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 WWW: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | WWW (Wolverine World Wide, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -36.4% |
| 5-year return | -99.4% | -38.6% |
| Volatility (ann.) | 75.7% | 57.1% |
| Beta vs S&P 500 | -4.54 | 1.60 |
| Max drawdown (3Y) | -97.6% | -58.0% |
| Market cap | – | $1.6B |
| P/E (trailing) | 20.6 | 15.7 |
| Dividend yield | 0.00% | 1.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | WWW |
|---|---|---|
| 2022 | +52.2% | -61.1% |
| 2023 | -90.1% | -15.6% |
| 2024 | -76.6% | +155.3% |
| 2025 | -61.4% | -16.5% |
| 2026 | -49.5% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and WWW good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and WWW?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.18 over the last year and -0.31 over 5 years.
Is WWW a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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-www.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-www/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · WWW correlations
