ARR vs FNGD: Correlation
How closely do ARMOUR Residential REIT, Inc. (ARR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARR and FNGD?
Over the past 3 years, ARR and FNGD moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.27). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -592.3 %².
Among the 13 assets we track against ARR, FNGD sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months ARR outperformed by 84.7 percentage points (+29.0% for ARR against -55.7% for FNGD). One caveat on sizing: FNGD is 2.6 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.
ARR vs FNGD: side by side
| ARR (ARMOUR Residential REIT, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +29.0% | -55.7% |
| 5-year return | -29.0% | -99.4% |
| Volatility (ann.) | 29.0% | 75.7% |
| Beta vs S&P 500 | 0.93 | -4.54 |
| Max drawdown (3Y) | -44.3% | -97.6% |
| Market cap | $2.3B | – |
| P/E (trailing) | 3.7 | 20.6 |
| Dividend yield | 17.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARR | FNGD |
|---|---|---|
| 2022 | -32.0% | +52.2% |
| 2023 | -15.4% | -90.1% |
| 2024 | +13.2% | -76.6% |
| 2025 | +11.7% | -61.4% |
| 2026 | +3.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARR and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARR and FNGD?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.15 over the last year and -0.33 over 5 years.
Is FNGD a good diversifier for ARR?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 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/arr-vs-fngd.json
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Related comparisons
Hubs: ARR correlations · FNGD correlations
