CIK vs FNGD: Correlation
Measured on weekly returns over the past three years, Credit Suisse Asset Management Income Fund, Inc. (CIK) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.52, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIK and FNGD?
Across a 3-year window, the weekly returns of CIK and FNGD correlate at -0.52, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.52) sits close to the 3-year figure. Stretching to 5 years gives -0.41, with an annualized covariance of -457.6 %².
Among the 11 assets we track against CIK, FNGD sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months CIK outperformed by 46.4 percentage points (-9.3% for CIK against -55.7% for FNGD). Risk is not evenly split, since FNGD carries 6.6 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.
CIK vs FNGD: side by side
| CIK (Credit Suisse Asset Management Income Fund, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -9.3% | -55.7% |
| 5-year return | +11.7% | -99.4% |
| Volatility (ann.) | 11.5% | 75.7% |
| Beta vs S&P 500 | 0.50 | -4.54 |
| Max drawdown (3Y) | -15.4% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | 17.4 | 20.6 |
| Dividend yield | 11.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIK | FNGD |
|---|---|---|
| 2022 | -19.0% | +52.2% |
| 2023 | +37.1% | -90.1% |
| 2024 | +1.2% | -76.6% |
| 2025 | +7.8% | -61.4% |
| 2026 | -8.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIK and FNGD good diversifiers for each other?
Yes. With a correlation of -0.52, CIK and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CIK and FNGD?
As of 2026-08-27, the correlation of weekly returns between CIK and FNGD is -0.52 over 3 years, -0.52 over 1 year and -0.41 over 5 years.
Is FNGD a good diversifier for CIK?
Yes. With a correlation of -0.52, CIK and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.52 mean?
A reading of -0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: CIK correlations · FNGD correlations
