BGDE vs FNGD: Correlation
How closely do Big Digital Energy, Inc. (BGDE) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGDE and FNGD?
On 3 years of weekly data the BGDE/FNGD correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.28). The 5-year figure is -0.26, and annualized covariance runs at -3870.5 %².
Among the 11 assets we track against BGDE, FNGD sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with BGDE ahead by 42.4 points (-13.3% versus -55.7%). One caveat on sizing: BGDE is 2.4 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.
BGDE vs FNGD: side by side
| BGDE (Big Digital Energy, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -13.3% | -55.7% |
| 5-year return | -99.6% | -99.4% |
| Volatility (ann.) | 181.6% | 75.7% |
| Beta vs S&P 500 | 4.23 | -4.54 |
| Max drawdown (3Y) | -98.0% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGDE | FNGD |
|---|---|---|
| 2022 | -96.5% | +52.2% |
| 2023 | +131.9% | -90.1% |
| 2024 | -74.1% | -76.6% |
| 2025 | -74.6% | -61.4% |
| 2026 | +72.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGDE and FNGD good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BGDE and FNGD?
The BGDE/FNGD correlation stands at -0.28 on a 3-year window (1 year: -0.39, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for BGDE?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BGDE correlations · FNGD correlations
