ALB vs FNGD: Correlation
Albemarle Corporation (ALB) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) 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 ALB and FNGD?
On 3 years of weekly data the ALB/FNGD correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. The 5-year figure is -0.43, and annualized covariance runs at -1312.0 %².
Out of 36 assets tracked against ALB, FNGD lands near the bottom at #34. Correlation aside, the last 12 months split them widely, with ALB ahead by 112.6 points (+56.9% versus -55.7%).
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.
ALB vs FNGD: side by side
| ALB (Albemarle Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +56.9% | -55.7% |
| 5-year return | -39.2% | -99.4% |
| Volatility (ann.) | 54.3% | 75.7% |
| Beta vs S&P 500 | 1.62 | -4.54 |
| Max drawdown (3Y) | -74.1% | -97.6% |
| Market cap | $16.0B | – |
| P/E (trailing) | 502.9 | 20.6 |
| Dividend yield | 1.20% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | ALB | FNGD |
|---|---|---|
| 2022 | -6.6% | +52.2% |
| 2023 | -32.8% | -90.1% |
| 2024 | -39.5% | -76.6% |
| 2025 | +67.7% | -61.4% |
| 2026 | -3.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALB and FNGD 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 ALB and FNGD?
As of 2026-08-27, the correlation of weekly returns between ALB and FNGD is -0.32 over 3 years, -0.23 over 1 year and -0.43 over 5 years.
Is FNGD a good diversifier for ALB?
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/alb-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alb-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALB correlations · FNGD correlations
