FNGD vs XPER: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Xperi Inc. (XPER) 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 XPER?
Over the past 3 years, FNGD and XPER moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -1053.3 %².
By 3-year correlation, XPER places #1002 of the 1743 assets tracked against FNGD. The last year tells two different stories: XPER led by 55.4 percentage points, -55.7% for FNGD against -0.3% for XPER. Note the risk asymmetry: FNGD runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 XPER: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | XPER (Xperi Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -0.3% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 43.6% |
| Beta vs S&P 500 | -4.54 | 1.29 |
| Max drawdown (3Y) | -97.6% | -57.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | XPER |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | +28.0% |
| 2024 | -76.6% | -6.8% |
| 2025 | -61.4% | -42.9% |
| 2026 | -49.5% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and XPER good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and XPER?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.38 over the last year and -0.33 over 5 years.
Is XPER a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
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-xper.json
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Related comparisons
Hubs: FNGD correlations · XPER correlations
