CLVT vs FNGD: Correlation
How closely do Clarivate Plc (CLVT) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLVT and FNGD?
Over the past 3 years, CLVT and FNGD moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.19 over 3. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -859.4 %².
Among the 13 assets we track against CLVT, FNGD sits near the bottom by co-movement, at rank #11. Neither side won the trailing year by much: -54.7% against -55.7%.
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.
CLVT vs FNGD: side by side
| CLVT (Clarivate Plc) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -54.7% | -55.7% |
| 5-year return | -91.9% | -99.4% |
| Volatility (ann.) | 59.3% | 75.7% |
| Beta vs S&P 500 | 0.99 | -4.54 |
| Max drawdown (3Y) | -82.2% | -97.6% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLVT | FNGD |
|---|---|---|
| 2022 | -64.5% | +52.2% |
| 2023 | +11.0% | -90.1% |
| 2024 | -45.1% | -76.6% |
| 2025 | -34.3% | -61.4% |
| 2026 | -39.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLVT and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLVT and FNGD?
As of 2026-08-27, the correlation of weekly returns between CLVT and FNGD is -0.19 over 3 years, -0.26 over 1 year and -0.28 over 5 years.
Is FNGD a good diversifier for CLVT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: CLVT correlations · FNGD correlations
