BRAG vs FNGD: Correlation
Bragg Gaming Group Inc. (BRAG) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRAG and FNGD?
Across a 3-year window, the weekly returns of BRAG and FNGD correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -1060.4 %².
Out of 10 assets tracked against BRAG, FNGD lands near the bottom at #8. The trailing year gives BRAG the advantage: -47.6% versus -55.7%, a 8.1-point spread.
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.
BRAG vs FNGD: side by side
| BRAG (Bragg Gaming Group Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -47.6% | -55.7% |
| 5-year return | -87.1% | -99.4% |
| Volatility (ann.) | 62.2% | 75.7% |
| Beta vs S&P 500 | 1.20 | -4.54 |
| Max drawdown (3Y) | -78.8% | -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 | BRAG | FNGD |
|---|---|---|
| 2022 | -23.5% | +52.2% |
| 2023 | +31.2% | -90.1% |
| 2024 | -26.7% | -76.6% |
| 2025 | -43.2% | -61.4% |
| 2026 | -31.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRAG and FNGD good diversifiers for each other?
Yes. With a correlation of -0.22, BRAG and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BRAG and FNGD?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.21 over the last year and -0.17 over 5 years.
Is FNGD a good diversifier for BRAG?
Yes. With a correlation of -0.22, BRAG and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/brag-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/brag-vs-fngd/)
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Related comparisons
Hubs: BRAG correlations · FNGD correlations
