BB vs FNGD: Correlation
Measured on weekly returns over the past three years, BlackBerry Limited (BB) 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 BB and FNGD?
Across a 3-year window, the weekly returns of BB and FNGD correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.40, with an annualized covariance of -1158.7 %².
FNGD is close to the least connected end of BB's tracked universe, ranking #9 of 11. Correlation aside, the last 12 months split them widely, with BB ahead by 180.4 points (+124.7% 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.
BB vs FNGD: side by side
| BB (BlackBerry Limited) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +124.7% | -55.7% |
| 5-year return | -22.8% | -99.4% |
| Volatility (ann.) | 63.0% | 75.7% |
| Beta vs S&P 500 | 1.29 | -4.54 |
| Max drawdown (3Y) | -62.3% | -97.6% |
| Market cap | $5.1B | – |
| P/E (trailing) | 78.6 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BB | FNGD |
|---|---|---|
| 2022 | -65.1% | +52.2% |
| 2023 | +8.6% | -90.1% |
| 2024 | +6.8% | -76.6% |
| 2025 | +0.3% | -61.4% |
| 2026 | +128.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BB and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between BB and FNGD?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.20 over the last year and -0.40 over 5 years.
Is FNGD a good diversifier for BB?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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
$ curl https://www.pairbook.io/api/v1/pairs/bb-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bb-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BB correlations · FNGD correlations
