CRML vs FNGD: Correlation
Critical Metals Corp. (CRML) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRML and FNGD?
Over the past 3 years, CRML and FNGD moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -2648.7 %².
FNGD is close to the least connected end of CRML's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months CRML outperformed by 79.2 percentage points (+23.5% for CRML against -55.7% for FNGD). Note the risk asymmetry: CRML runs 1.9 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.
CRML vs FNGD: side by side
| CRML (Critical Metals Corp.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +23.5% | -55.7% |
| 5-year return | -19.1% | -99.4% |
| Volatility (ann.) | 144.4% | 75.7% |
| Beta vs S&P 500 | 2.11 | -4.54 |
| Max drawdown (3Y) | -93.9% | -97.6% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRML | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | +7.7% | -90.1% |
| 2024 | -38.3% | -76.6% |
| 2025 | +2.2% | -61.4% |
| 2026 | +15.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRML and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRML and FNGD?
As of 2026-08-27, the correlation of weekly returns between CRML and FNGD is -0.24 over 3 years, -0.28 over 1 year and -0.18 over 5 years.
Is FNGD a good diversifier for CRML?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 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/crml-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crml-vs-fngd/)
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Related comparisons
Hubs: CRML correlations · FNGD correlations
