CRH vs FNGD: Correlation
Measured on weekly returns over the past three years, CRH plc (CRH) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRH and FNGD?
Over the past 3 years, CRH and FNGD moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.31) runs above the 3-year figure (-0.47). Over 5 years the correlation is -0.46, and the annualized covariance of weekly returns is -1066.7 %².
FNGD is close to the least connected end of CRH's tracked universe, ranking #38 of 40. The last year tells two different stories: CRH led by 41.1 percentage points, -14.6% for CRH against -55.7% for FNGD. One caveat on sizing: FNGD is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRH vs FNGD: side by side
| CRH (CRH plc) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -14.6% | -55.7% |
| 5-year return | +104.1% | -99.4% |
| Volatility (ann.) | 29.7% | 75.7% |
| Beta vs S&P 500 | 1.26 | -4.54 |
| Max drawdown (3Y) | -28.4% | -97.6% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | 20.6 |
| Dividend yield | 1.57% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CRH | FNGD |
|---|---|---|
| 2022 | -20.5% | +52.2% |
| 2023 | +81.3% | -90.1% |
| 2024 | +35.9% | -76.6% |
| 2025 | +35.9% | -61.4% |
| 2026 | -22.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRH and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRH and FNGD?
The CRH/FNGD correlation stands at -0.47 on a 3-year window (1 year: -0.31, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for CRH?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
A reading of -0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crh-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crh-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRH correlations · FNGD correlations
