ATKR vs FNGD: Correlation
Measured on weekly returns over the past three years, Atkore Inc. (ATKR) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATKR and FNGD?
Across a 3-year window, the weekly returns of ATKR and FNGD correlate at -0.32, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -1107.9 %².
Out of 13 assets tracked against ATKR, FNGD lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months ATKR outperformed by 115.6 percentage points (+59.9% for ATKR against -55.7% for FNGD). One caveat on sizing: FNGD is 1.6 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.
ATKR vs FNGD: side by side
| ATKR (Atkore Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +59.9% | -55.7% |
| 5-year return | +5.7% | -99.4% |
| Volatility (ann.) | 46.4% | 75.7% |
| Beta vs S&P 500 | 1.37 | -4.54 |
| Max drawdown (3Y) | -72.8% | -97.6% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 1.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATKR | FNGD |
|---|---|---|
| 2022 | +2.0% | +52.2% |
| 2023 | +41.1% | -90.1% |
| 2024 | -47.3% | -76.6% |
| 2025 | -22.7% | -61.4% |
| 2026 | +50.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATKR 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 ATKR and FNGD?
As of 2026-08-27, the correlation of weekly returns between ATKR and FNGD is -0.32 over 3 years, -0.37 over 1 year and -0.36 over 5 years.
Is FNGD a good diversifier for ATKR?
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?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: ATKR correlations · FNGD correlations
