B vs FNGD: Correlation
Measured on weekly returns over the past three years, Barrick Mining Corporation (B) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are B and FNGD?
Across a 3-year window, the weekly returns of B and FNGD correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.24 over 3 years. Stretching to 5 years gives -0.26, with an annualized covariance of -733.4 %².
FNGD is close to the least connected end of B's tracked universe, ranking #15 of 17. The last year tells two different stories: B led by 138.8 percentage points, +83.1% for B against -55.7% for FNGD. Risk is not evenly split, since FNGD carries 1.9 times the volatility of the other side.
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.
B vs FNGD: side by side
| B (Barrick Mining Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +83.1% | -55.7% |
| 5-year return | +171.9% | -99.4% |
| Volatility (ann.) | 40.7% | 75.7% |
| Beta vs S&P 500 | 0.87 | -4.54 |
| Max drawdown (3Y) | -33.4% | -97.6% |
| Market cap | $77.9B | – |
| P/E (trailing) | 12.2 | 20.6 |
| Dividend yield | 1.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | B | FNGD |
|---|---|---|
| 2022 | -6.2% | +52.2% |
| 2023 | +7.9% | -90.1% |
| 2024 | -12.3% | -76.6% |
| 2025 | +186.9% | -61.4% |
| 2026 | +10.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are B and FNGD good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between B and FNGD?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.39 over the last year and -0.26 over 5 years.
Is FNGD a good diversifier for B?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/b-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/b-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: B correlations · FNGD correlations
