BON vs FNGD: Correlation
Bon Natural Life Limited - Class A (BON) 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 BON and FNGD?
Across a 3-year window, the weekly returns of BON and FNGD correlate at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.27 over 3 years. Stretching to 5 years gives -0.17, with an annualized covariance of -1950.4 %².
FNGD is close to the least connected end of BON's tracked universe, ranking #11 of 12. The last year tells two different stories: BON led by 37.7 percentage points, -18.0% for BON against -55.7% for FNGD.
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.
BON vs FNGD: side by side
| BON (Bon Natural Life Limited - Class A) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -18.0% | -55.7% |
| 5-year return | -100.0% | -99.4% |
| Volatility (ann.) | 94.3% | 75.7% |
| Beta vs S&P 500 | 1.69 | -4.54 |
| Max drawdown (3Y) | -99.4% | -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 | BON | FNGD |
|---|---|---|
| 2022 | -76.2% | +52.2% |
| 2023 | -48.9% | -90.1% |
| 2024 | -67.2% | -76.6% |
| 2025 | -96.4% | -61.4% |
| 2026 | -28.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BON and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between BON and FNGD?
As of 2026-08-27, the correlation of weekly returns between BON and FNGD is -0.27 over 3 years, -0.04 over 1 year and -0.17 over 5 years.
Is FNGD a good diversifier for BON?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
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/bon-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bon-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BON correlations · FNGD correlations
