CLDT vs FNGD: Correlation
Measured on weekly returns over the past three years, Chatham Lodging Trust (REIT) (CLDT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDT and FNGD?
Over the past 3 years, CLDT and FNGD moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.27 over 3 years. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -594.5 %².
Among the 14 assets we track against CLDT, FNGD sits near the bottom by co-movement, at rank #12. The last year tells two different stories: CLDT led by 135.7 percentage points, +80.0% for CLDT against -55.7% for FNGD. Note the risk asymmetry: FNGD runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CLDT vs FNGD: side by side
| CLDT (Chatham Lodging Trust (REIT)) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +80.0% | -55.7% |
| 5-year return | +28.1% | -99.4% |
| Volatility (ann.) | 29.5% | 75.7% |
| Beta vs S&P 500 | 0.92 | -4.54 |
| Max drawdown (3Y) | -41.9% | -97.6% |
| Market cap | $0.7B | – |
| P/E (trailing) | 166.9 | 20.6 |
| Dividend yield | 2.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDT | FNGD |
|---|---|---|
| 2022 | -10.0% | +52.2% |
| 2023 | -10.1% | -90.1% |
| 2024 | -13.8% | -76.6% |
| 2025 | -19.9% | -61.4% |
| 2026 | +100.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDT and FNGD good diversifiers for each other?
Yes. With a correlation of -0.27, CLDT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLDT and FNGD?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.04 over the last year and -0.32 over 5 years.
Is FNGD a good diversifier for CLDT?
Yes. With a correlation of -0.27, CLDT and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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
$ curl https://www.pairbook.io/api/v1/pairs/cldt-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldt-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDT correlations · FNGD correlations
