COHU vs FNGD: Correlation
Measured on weekly returns over the past three years, Cohu, Inc. (COHU) 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 COHU and FNGD?
Over the past 3 years, COHU and FNGD moved with a correlation of -0.52, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.42) runs above the 3-year figure (-0.52). Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -1753.3 %².
Among the 24 assets we track against COHU, FNGD sits near the bottom by co-movement, at rank #24. The last year tells two different stories: COHU led by 210.5 percentage points, +154.8% for COHU against -55.7% for FNGD. Risk is not evenly split, since FNGD carries 1.7 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.
COHU vs FNGD: side by side
| COHU (Cohu, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +154.8% | -55.7% |
| 5-year return | +41.3% | -99.4% |
| Volatility (ann.) | 44.8% | 75.7% |
| Beta vs S&P 500 | 1.74 | -4.54 |
| Max drawdown (3Y) | -64.7% | -97.6% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COHU | FNGD |
|---|---|---|
| 2022 | -15.9% | +52.2% |
| 2023 | +10.4% | -90.1% |
| 2024 | -24.6% | -76.6% |
| 2025 | -12.8% | -61.4% |
| 2026 | +122.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHU and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
FAQ
What is the correlation between COHU and FNGD?
As of 2026-08-27, the correlation of weekly returns between COHU and FNGD is -0.52 over 3 years, -0.42 over 1 year and -0.56 over 5 years.
Is FNGD a good diversifier for COHU?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
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.
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Related comparisons
Hubs: COHU correlations · FNGD correlations
