CMRC vs FNGD: Correlation
Measured on weekly returns over the past three years, Commerce.com, Inc. - Series 1 (CMRC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRC and FNGD?
Across a 3-year window, the weekly returns of CMRC and FNGD correlate at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.44, with an annualized covariance of -1203.8 %².
Out of 16 assets tracked against CMRC, FNGD lands near the bottom at #14. Over the last 12 months CMRC came out ahead by 5.9 percentage points (-49.8% 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.
CMRC vs FNGD: side by side
| CMRC (Commerce.com, Inc. - Series 1) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -49.8% | -55.7% |
| 5-year return | -96.1% | -99.4% |
| Volatility (ann.) | 53.5% | 75.7% |
| Beta vs S&P 500 | 1.40 | -4.54 |
| Max drawdown (3Y) | -81.5% | -97.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRC | FNGD |
|---|---|---|
| 2022 | -75.3% | +52.2% |
| 2023 | +11.3% | -90.1% |
| 2024 | -37.1% | -76.6% |
| 2025 | -32.7% | -61.4% |
| 2026 | -42.5% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRC and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between CMRC and FNGD?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.27 over the last year and -0.44 over 5 years.
Is FNGD a good diversifier for CMRC?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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
$ curl https://www.pairbook.io/api/v1/pairs/cmrc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmrc-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMRC correlations · FNGD correlations
