BVN vs FNGD: Correlation
Measured on weekly returns over the past three years, Buenaventura Mining Company Inc. (BVN) 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 BVN and FNGD?
On 3 years of weekly data the BVN/FNGD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. The 5-year figure is -0.19, and annualized covariance runs at -865.0 %².
FNGD is close to the least connected end of BVN's tracked universe, ranking #10 of 11. The last year tells two different stories: BVN led by 156.3 percentage points, +100.6% for BVN against -55.7% for FNGD. One caveat on sizing: FNGD is 1.7 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.
BVN vs FNGD: side by side
| BVN (Buenaventura Mining Company Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +100.6% | -55.7% |
| 5-year return | +411.8% | -99.4% |
| Volatility (ann.) | 44.9% | 75.7% |
| Beta vs S&P 500 | 0.86 | -4.54 |
| Max drawdown (3Y) | -38.3% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | 8.8 | 20.6 |
| Dividend yield | 3.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVN | FNGD |
|---|---|---|
| 2022 | +2.5% | +52.2% |
| 2023 | +106.5% | -90.1% |
| 2024 | -24.1% | -76.6% |
| 2025 | +146.4% | -61.4% |
| 2026 | +34.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVN and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between BVN and FNGD?
As of 2026-08-27, the correlation of weekly returns between BVN and FNGD is -0.25 over 3 years, -0.22 over 1 year and -0.19 over 5 years.
Is FNGD a good diversifier for BVN?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bvn-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bvn-vs-fngd/)
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Related comparisons
Hubs: BVN correlations · FNGD correlations
