BWXT vs FNGD: Correlation
How closely do BWX Technologies, Inc. (BWXT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWXT and FNGD?
On 3 years of weekly data the BWXT/FNGD correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. The 5-year figure is -0.33, and annualized covariance runs at -912.4 %².
Among the 10 assets we track against BWXT, FNGD sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months BWXT outperformed by 50.4 percentage points (-5.3% for BWXT against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 2.3 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.
BWXT vs FNGD: side by side
| BWXT (BWX Technologies, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -5.3% | -55.7% |
| 5-year return | +188.9% | -99.4% |
| Volatility (ann.) | 33.5% | 75.7% |
| Beta vs S&P 500 | 1.01 | -4.54 |
| Max drawdown (3Y) | -37.1% | -97.6% |
| Market cap | $14.3B | – |
| P/E (trailing) | 39.7 | 20.6 |
| Dividend yield | 0.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWXT | FNGD |
|---|---|---|
| 2022 | +23.3% | +52.2% |
| 2023 | +33.9% | -90.1% |
| 2024 | +46.5% | -76.6% |
| 2025 | +56.4% | -61.4% |
| 2026 | -9.4% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWXT and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between BWXT and FNGD?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.27 over the last year and -0.33 over 5 years.
Is FNGD a good diversifier for BWXT?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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
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[](https://www.pairbook.io/pair/bwxt-vs-fngd/)
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Related comparisons
Hubs: BWXT correlations · FNGD correlations
