CLH vs FNGD: Correlation
Clean Harbors, Inc. (CLH) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLH and FNGD?
On 3 years of weekly data the CLH/FNGD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.16) than the 3-year average (-0.25). The 5-year figure is -0.32, and annualized covariance runs at -443.6 %².
Among the 17 assets we track against CLH, FNGD sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with CLH ahead by 82.7 points (+27.0% versus -55.7%). Risk is not evenly split, since FNGD carries 3.2 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.
CLH vs FNGD: side by side
| CLH (Clean Harbors, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +27.0% | -55.7% |
| 5-year return | +204.2% | -99.4% |
| Volatility (ann.) | 23.8% | 75.7% |
| Beta vs S&P 500 | 0.66 | -4.54 |
| Max drawdown (3Y) | -30.9% | -97.6% |
| Market cap | $16.5B | – |
| P/E (trailing) | 37.8 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLH | FNGD |
|---|---|---|
| 2022 | +14.4% | +52.2% |
| 2023 | +52.9% | -90.1% |
| 2024 | +31.9% | -76.6% |
| 2025 | +1.9% | -61.4% |
| 2026 | +33.0% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLH 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 CLH and FNGD?
As of 2026-08-27, the correlation of weekly returns between CLH and FNGD is -0.25 over 3 years, 0.16 over 1 year and -0.32 over 5 years.
Is FNGD a good diversifier for CLH?
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.
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Related comparisons
Hubs: CLH correlations · FNGD correlations
