CRF vs FNGD: Correlation
Cornerstone Total Return Fund, Inc. (The) (CRF) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRF and FNGD?
On 3 years of weekly data the CRF/FNGD correlation comes out at -0.51, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.53 over 1 year against -0.51 over 3. The 5-year figure is -0.45, and annualized covariance runs at -836.7 %².
Out of 12 assets tracked against CRF, FNGD lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months CRF outperformed by 54.0 percentage points (-1.7% for CRF against -55.7% for FNGD). Note the risk asymmetry: FNGD runs 3.5 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.
CRF vs FNGD: side by side
| CRF (Cornerstone Total Return Fund, Inc. (The)) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -1.7% | -55.7% |
| 5-year return | +29.2% | -99.4% |
| Volatility (ann.) | 21.5% | 75.7% |
| Beta vs S&P 500 | 0.91 | -4.54 |
| Max drawdown (3Y) | -29.6% | -97.6% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.3 | 20.6 |
| Dividend yield | 21.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRF | FNGD |
|---|---|---|
| 2022 | -36.7% | +52.2% |
| 2023 | +19.4% | -90.1% |
| 2024 | +44.5% | -76.6% |
| 2025 | +12.5% | -61.4% |
| 2026 | -9.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRF and FNGD good diversifiers for each other?
Yes. With a correlation of -0.51, CRF and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRF and FNGD?
The CRF/FNGD correlation stands at -0.51 on a 3-year window (1 year: -0.53, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CRF?
Yes. With a correlation of -0.51, CRF and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crf-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crf-vs-fngd/)
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Related comparisons
Hubs: CRF correlations · FNGD correlations
