BRLT vs FNGD: Correlation
Measured on weekly returns over the past three years, Brilliant Earth Group, Inc. (BRLT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRLT and FNGD?
Across a 3-year window, the weekly returns of BRLT and FNGD correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -1245.8 %².
Out of 12 assets tracked against BRLT, FNGD lands near the bottom at #10. Their 12-month results are close: -53.7% for BRLT 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.
BRLT vs FNGD: side by side
| BRLT (Brilliant Earth Group, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -53.7% | -55.7% |
| 5-year return | -91.4% | -99.4% |
| Volatility (ann.) | 66.7% | 75.7% |
| Beta vs S&P 500 | 1.29 | -4.54 |
| Max drawdown (3Y) | -68.9% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BRLT | FNGD |
|---|---|---|
| 2022 | -76.1% | +52.2% |
| 2023 | -13.7% | -90.1% |
| 2024 | -43.5% | -76.6% |
| 2025 | -6.3% | -61.4% |
| 2026 | -25.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRLT and FNGD good diversifiers for each other?
Yes. With a correlation of -0.25, BRLT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BRLT and FNGD?
As of 2026-08-27, the correlation of weekly returns between BRLT and FNGD is -0.25 over 3 years, -0.27 over 1 year and -0.32 over 5 years.
Is FNGD a good diversifier for BRLT?
Yes. With a correlation of -0.25, BRLT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/brlt-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/brlt-vs-fngd/)
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Related comparisons
Hubs: BRLT correlations · FNGD correlations
