CAMT vs FNGD: Correlation
How closely do Camtek Ltd. (CAMT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAMT and FNGD?
Over the past 3 years, CAMT and FNGD moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.30) than the 3-year average (-0.48). Over 5 years the correlation is -0.50, and the annualized covariance of weekly returns is -2099.1 %².
Among the 10 assets we track against CAMT, FNGD sits near the bottom by co-movement, at rank #10. The last year tells two different stories: CAMT led by 122.3 percentage points, +66.6% for CAMT 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.
CAMT vs FNGD: side by side
| CAMT (Camtek Ltd.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +66.6% | -55.7% |
| 5-year return | +253.0% | -99.4% |
| Volatility (ann.) | 57.7% | 75.7% |
| Beta vs S&P 500 | 1.95 | -4.54 |
| Max drawdown (3Y) | -63.2% | -97.6% |
| Market cap | $6.8B | – |
| P/E (trailing) | 193.1 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAMT | FNGD |
|---|---|---|
| 2022 | -52.3% | +52.2% |
| 2023 | +215.9% | -90.1% |
| 2024 | +18.3% | -76.6% |
| 2025 | +31.7% | -61.4% |
| 2026 | +36.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAMT and FNGD good diversifiers for each other?
Yes. With a correlation of -0.48, CAMT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CAMT and FNGD?
As of 2026-08-27, the correlation of weekly returns between CAMT and FNGD is -0.48 over 3 years, -0.30 over 1 year and -0.50 over 5 years.
Is FNGD a good diversifier for CAMT?
Yes. With a correlation of -0.48, CAMT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/camt-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/camt-vs-fngd/)
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Related comparisons
Hubs: CAMT correlations · FNGD correlations
