BJRI vs FNGD: Correlation
BJ's Restaurants, Inc. (BJRI) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJRI and FNGD?
Across a 3-year window, the weekly returns of BJRI and FNGD correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.27). Stretching to 5 years gives -0.29, with an annualized covariance of -839.1 %².
FNGD is close to the least connected end of BJRI's tracked universe, ranking #14 of 16. Correlation aside, the last 12 months split them widely, with BJRI ahead by 141.8 points (+86.1% versus -55.7%). Risk is not evenly split, since FNGD carries 1.8 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.
BJRI vs FNGD: side by side
| BJRI (BJ's Restaurants, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +86.1% | -55.7% |
| 5-year return | +50.0% | -99.4% |
| Volatility (ann.) | 41.5% | 75.7% |
| Beta vs S&P 500 | 1.20 | -4.54 |
| Max drawdown (3Y) | -38.7% | -97.6% |
| Market cap | $1.4B | – |
| P/E (trailing) | 33.7 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJRI | FNGD |
|---|---|---|
| 2022 | -23.6% | +52.2% |
| 2023 | +36.5% | -90.1% |
| 2024 | -2.4% | -76.6% |
| 2025 | +12.1% | -61.4% |
| 2026 | +61.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJRI and FNGD good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BJRI and FNGD?
As of 2026-08-27, the correlation of weekly returns between BJRI and FNGD is -0.27 over 3 years, -0.16 over 1 year and -0.29 over 5 years.
Is FNGD a good diversifier for BJRI?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/bjri-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bjri-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BJRI correlations · FNGD correlations
