DBRG vs FNGD: Correlation
Measured on weekly returns over the past three years, DigitalBridge Group, Inc. (DBRG) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBRG and FNGD?
Over the past 3 years, DBRG and FNGD moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.26). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -1043.3 %².
Out of 14 assets tracked against DBRG, FNGD lands near the bottom at #12. The last year tells two different stories: DBRG led by 95.6 percentage points, +39.9% for DBRG against -55.7% for FNGD.
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.
DBRG vs FNGD: side by side
| DBRG (DigitalBridge Group, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +39.9% | -55.7% |
| 5-year return | -41.3% | -99.4% |
| Volatility (ann.) | 53.7% | 75.7% |
| Beta vs S&P 500 | 1.50 | -4.54 |
| Max drawdown (3Y) | -67.0% | -97.6% |
| Market cap | $3.0B | – |
| P/E (trailing) | 10.0 | 20.6 |
| Dividend yield | 0.25% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBRG | FNGD |
|---|---|---|
| 2022 | -67.1% | +52.2% |
| 2023 | +60.8% | -90.1% |
| 2024 | -35.5% | -76.6% |
| 2025 | +36.5% | -61.4% |
| 2026 | +4.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBRG and FNGD good diversifiers for each other?
Yes. With a correlation of -0.26, DBRG and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DBRG and FNGD?
As of 2026-08-27, the correlation of weekly returns between DBRG and FNGD is -0.26 over 3 years, -0.06 over 1 year and -0.37 over 5 years.
Is FNGD a good diversifier for DBRG?
Yes. With a correlation of -0.26, DBRG and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
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Related comparisons
Hubs: DBRG correlations · FNGD correlations
