DC vs FNGD: Correlation
Dakota Gold Corp. (DC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DC and FNGD?
Over the past 3 years, DC and FNGD moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.53) runs below the 3-year figure (-0.29). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1361.1 %².
Out of 12 assets tracked against DC, FNGD lands near the bottom at #12. The last year tells two different stories: DC led by 105.0 percentage points, +49.3% for DC 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.
DC vs FNGD: side by side
| DC (Dakota Gold Corp.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +49.3% | -55.7% |
| 5-year return | -9.6% | -99.4% |
| Volatility (ann.) | 61.3% | 75.7% |
| Beta vs S&P 500 | 1.26 | -4.54 |
| Max drawdown (3Y) | -41.7% | -97.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DC | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | -14.1% | -90.1% |
| 2024 | -16.0% | -76.6% |
| 2025 | +158.2% | -61.4% |
| 2026 | +9.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DC and FNGD good diversifiers for each other?
Yes. With a correlation of -0.29, DC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DC and FNGD?
The DC/FNGD correlation stands at -0.29 on a 3-year window (1 year: -0.53, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DC?
Yes. With a correlation of -0.29, DC and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 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/dc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dc-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DC correlations · FNGD correlations
